All existing grave markers at First Street Cemetery have been photographed and are posted on Find A Grave.

First Street Cemetery is the oldest public cemetery in Waco and is composed of three distinct cemeteries: City Cemetery, Odd Fellows Cemetery and Masonic Cemetery. In 1852, City Cemetery and Masonic Cemetery were officially established. It is not known when Odd Fellows Cemetery was officially established, but it was acquired by the City of Waco in 1866. Mrs. J. L. Staton, Sr. and Mrs. Thos. R. Meredith completed a comprehensive inventory of existing grave markers in "Old First Street Cemetery" in 1962.

As the oldest public cemetery, First Street Cemetery is the resting place for members of Waco's early and diverse community. Burials include a Citizen of the Republic of Texas, Veterans from many wars, Masons, Odd Fellows, Woodmen of the World, Knights and Daughters of Tabor, Mosaic Templars of America, and Court of Calanthe. Accurate burial records did not survive or were not well kept. It was reported in 19th century newspapers that many grave markers were made of wood and were rotting away. The cemetery had sextons during the 19th century.

By the 1890s, burials were dug in tiers which often resulted in the disturbance of previous burials. In 1968, after years of neglect, the Waco city council voted to relocate the graves and markers in the lower terrace/predominately Black section of the cemetery to the upper terrace/predominately White section.

The lower terrace became a recreational campground known as Fort Fisher Park. In 2000, the campground was closed. In 2007, construction on the Texas Ranger Company "F" Headquarters and Education Center began in the lower terrace. During the construction, remains were discovered indicating that only headstones were relocated in 1968. Remains excavated between 2007 and 2010 were reinterred at Rosemound Cemetery. To eliminate future disturbances of remains at First Street Cemetery, the city council rededicated the cemetery on December 7, 2010.

First Street Cemetery was declared eligible for the National Register of Historic Places by the United States Department of the Interior/National Park Service and by the Texas Historical Commission in 2009. First Street Cemetery has also been designated as an Historic Texas Cemetery and as a State Antiquities Landmark by the Texas Historical Commission.