The city has a special status within the oblast, the city of oblast subordination or an oblast municipality. As a municipality it combines the city of Znamianka, the town of Znamianka Druha, and the village of Vodyane. The city itself is known for its railway station.
There is a memorial to the soldiers of the 5th Guards Tank Army, who liberated the town from the Germans. It takes the form of a tank mounted on a plinth. Znamianka was occupied from August 5, 1941 to December 9, 1943.