Tucked into central Alberta along Highway 13, Lougheed sits roughly 94 kilometres south-east of Camrose. The village covers a land area of approximately 2 square kilometres and carries a population density of around 112.5 people per square kilometre. The name honours Sir James Lougheed, who served as an Alberta senator from 1889 to 1925, giving the community a direct connection to early Canadian political history.
According to the 2021 Census of Population, Lougheed was home to 225 residents occupying 95 of its 117 private dwellings. That figure represented a decline of about 12.1% from the 256 residents recorded in the 2016 census, which had itself reflected a 9.9% increase over the 233 counted in 2011. A municipal census conducted in 2013 placed the population at 273, while a 2010 count had found 254 residents. These shifting numbers reflect the modest but active demographic story of a small Alberta village that has seen both growth and contraction over the past decade and a half.