It is situated at an elevation of 1377 m and had a population of 277 in December 2007. It is located at the end of the Goms, directly before the Furka and Grimsel passes, underneath the Rhône River source at the Rhône Glacier. It is also the startpoint of the Furka Tunnel. Most inhabitants live off tourism or sheep farming.
Oberwald was an independent municipality until January 1, 2009, when it merged with Ulrichen and Obergesteln to form the municipality of Obergoms.