Started in June 1951 by John Avery Lomax, Jr., Ed Badeaux, Howie Porper, Chester Bower, and Harold Belikoff, the Houston Folklore Society held early meetings at the Jewish Community Center, the Downtown YMCA, and Hermann Park Pavilion. These meetings consisted of song swaps, folk dancing, and folk song concerts in conjunction with the Jewish Community Center. Early on, they also sponsored concerts by Pete Seeger, Doc Watson, and Lester Flatt and Earl Scruggs and the Foggy Mountain Boys.

In April 1988, the name was changed to Houston Folklore and Folk Music Society, then shortened to the Houston Folklore and Music Society (HFMS) on a consistent basis in 1990, though the shortened name had been officially incorporated by July 1988.

By June 1966, a newsletter that contained event information and articles about folk music was started. By 1968, the name of the newsletter changed from the "Houston Folklore Bulletin" to the "Cotton Patch Rag" which continues publication today.

During the 1980s, monthly pickin' parties began which still continue.  In 1980, HFMS started hosting concerts, which later became known as Second Saturday Concerts. These have continued to this day with a variety of national and regional folk musicians performing.  Second Saturday Concerts will become Second Sunday Concerts in Fall 2024.