
Oldsmar's history dates to 1913 when automobile pioneer Ransom E. Olds purchased 37,541 acres (152 km²) of land by the northern part of Tampa Bay to establish “R. E. Olds-on-the-Bay”. The name was later changed to Oldsmar, then to “Tampa Shores” in 1927, and finally back to Oldsmar in 1937. Ransom Eli Olds named some of the original streets himself, such as Gim Gong Road. In recent years, Oldsmar has experienced explosive growth including the construction of many retail establishments as well as new hotels and industry. A new downtown is being developed which its promoters hope will bring back the "old Florida" feel to the city. Oldsmar celebrates its history every year with Oldsmar Days and Nights, where residents and visitors take part in parades, car shows (featuring the Oldsmobile) and carnival rides.
Notable Oldsmar businesses include the nearby Tampa Bay Downs, the production headquarters of Nielsen Media Research, and Children's Charity Kids Wish Network.
According to the United States Census Bureau, the city has a total area of 25.0 km² (9.7 mi²). 23.1 km² (8.9 mi²) of it is land and 1.9 km² (0.8 mi²) of it (7.76%) is water.
There were 4,536 households out of which 37.5% had children under the age of 18 living with them, 56.9% were married couples living together, 12.1% had a female householder with no husband present, and 26.6% were non-families. 19.6% of all households were made up of individuals and 5.6% had someone living alone who was 65 years of age or older. The average household size was 2.60 and the average family size was 3.00.
In the city the population was spread out with 26.6% under the age of 18, 6.6% from 18 to 24, 35.2% from 25 to 44, 20.4% from 45 to 64, and 11.2% who were 65 years of age or older. The median age was 36 years. For every 100 females there were 93.4 males. For every 100 females age 18 and over, there were 90.5 males.
The median income for a household in the city was $50,354, and the median income for a family was $53,142. Males had a median income of $37,083 versus $30,329 for females. The per capita income for the city was $21,671. About 2.8% of families and 4.8% of the population were below the poverty line, including 4.6% of those under age 18 and 4.9% of those age 65 or over.