Meier was fatally shot by an unknown assassin on July 14, 1770, at the Henry Buch House on 40 West Main Street. After his death the citizens of Tulpehocken Town began to call it Meier's Town after him, which later evolved into its present spelling.
According to the United States Census Bureau, the borough has a total area of 0.9 square miles (2.3 km²), of which, 0.9 square miles (2.3 km²) of it is land and none of the area is covered with water.
Myerstown is completely surrounded by Jackson Township.
There were 1,265 households out of which 29.6% had children under the age of 18 living with them, 50.4% were married couples living together, 9.5% had a female householder with no husband present, and 35.9% were non-families. 31.5% of all households were made up of individuals and 16.1% had someone living alone who was 65 years of age or older. The average household size was 2.33 and the average family size was 2.91.
In the borough the population was spread out with 22.2% under the age of 18, 7.0% from 18 to 24, 29.6% from 25 to 44, 19.2% from 45 to 64, and 22.0% who were 65 years of age or older. The median age was 38 years. For every 100 females there were 85.8 males. For every 100 females age 18 and over, there were 81.5 males.
The median income for a household in the borough was $36,563, and the median income for a family was $45,698. Males had a median income of $31,985 versus $20,684 for females. The per capita income for the borough was $17,177. 6.6% of the population and 4.6% of families were below the poverty line. 8.4% of those under the age of 18 and 9.5% of those 65 and older were living below the poverty line.