Apple Valley was incorporated on October 15, 2004, and a 2007 population estimate by the US Census Bureau placed its population at 427. In 2006, some residents of the town signed a petition calling for dis-incorporation, saying that its incorporation was premature. They obtained enough signatures to call for a vote of dis-incorporation, but the attempt was unsuccessful. Another dis-incorporation vote on June 19, 2012 also failed.
As of the census of 2010, there were 701 people residing in the town. There were 295 housing units. The racial makeup of the town was 94.3% White, 3.0% American Indian and Alaska Native, 0.1% Asian, 1.3% from some other race, and 1.3% from two or more races. Hispanic or Latino of any race were 3.3% of the population.