According to the United States Census Bureau, the village has a total area of 1.2 square miles (3.2 km²), all of it land.
There were 1,617 households out of which 27.2% had children under the age of 18 living with them, 34.8% were married couples living together, 16.1% had a female householder with no husband present, and 44.2% were non-families. 36.9% of all households were made up of individuals and 11.8% had someone living alone who was 65 years of age or older. The average household size was 2.29 and the average family size was 2.99.
In the village the population was spread out with 24.0% under the age of 18, 9.4% from 18 to 24, 33.2% from 25 to 44, 21.5% from 45 to 64, and 11.9% who were 65 years of age or older. The median age was 36 years. For every 100 females there were 101.6 males. For every 100 females age 18 and over, there were 101.0 males.
The median income for a household in the village was $28,292, and the median income for a family was $33,984. Males had a median income of $30,638 versus $22,755 for females. The per capita income for the village was $15,661. About 14.2% of families and 17.1% of the population were below the poverty line, including 26.5% of those under age 18 and 9.8% of those age 65 or over.
The birth of the town, and its name, are related to the first set of lock gates that one would have encountered heading north on the Miami and Erie Canal. The canal served as a major transportation route linking commerce from as far as New Orleans to New York city. Many people and industry were attracted to the western Ohio area by connecting Lake Erie to the Ohio River. Lockland provided an abundance of water power, having a fifteen foot difference in water tables. This allowed for a water mill which ground flour for local farmers. A large reservoir pond allowed boats to dock for repairs or layover. Even today a section of Lockland is still referred to as "Bud-Town" which was the bedding and entertainment area of the day. During the locomotive boom the canal remained semi operational until 1929. The canal sat still for a few years during the thirties. The Mill Creek Expressway reused some portions of the dead canal as well as the Wright-Lockland Highway. By the fifties the The National Interstate and Defense Highways Act of 1956 created today's interstate system, including Interstate 75. Lockland's past and future are directly related to the growth of national transportation and commerse.
Lockland was also home to the Stearns and Foster Matress company, which was founded in Cincinnati in 1846 and moved to Lockland in 1880. The original factory and office building still stand in the downtown area of the village, however, after a fire in 2004 the two factory buildings, which sit on approximately 18 acres, began to be demolished.