It is administered by Corby Borough Council; at the time of the 2001 census, the parish's population was 1,644 people.
While still a defined village, , it is under great pressure to expand and consequently risks becoming a suburb of – or engulfed by – its neighbour. Weldon is at the crossroads of the north-south A43 trunk road which bypasses it to the west and the A427 that, locally, provides a route to Market Harborough westbound and Oundle eastbound; traffic on this road is "calmed" by an extensive scheme. The King's Arms public house was demolished and replaced with housing.
Weldon currently has three public houses, the CAMRA-approved Shoulder of Mutton, The George, formerly a 17th-century coaching inn, and The Woolpack. The Church of St Mary is an early-13th century limestone built church and is located just to the south of the main village.
The village is home to Weldon Cricket Club which runs eight teams for both adults and children, and the village football team, Weldon United, play in the Northamptonshire Football Combination Premier Division.