The city had a population of 7721 inhabitants according to the 2001 census.
Kalabaka has been populated since ancient times, its former name being Aeginion. In Byzantine times it was called Stagoi. It is situated near Meteora with its monasteries, 352km from Athens and 237km from Thessaloniki. The Pineios River flows nearby.
Kalabaka is the seat of the municipality and the province of the same name. It draws tourists mostly bound for Meteora. Another worthwhile site is the medieaval church of the Dormition of Theotokos, which was built on the ruins of an earlier temple of Apollo