The community was named after nearby Wagontire Mountain.[3] From 1986 to at least 1997, Wagontire was home to just two people: William and Olgie Warner.[4] The Warners' property included a gas station, cafe, motel, general store, and recreational vehicle (RV) park.[5] Also there was Wagontire Airport, across the road from the buildings.[5] Planes flying into the airport taxied across the highway, and filled up at the gas station.[4]
In summer 1999, the community was purchased by Ellie Downing of Burns, who moved there with her nephew, Jerry Gray.[6]