Lake Holiday is an unincorporated community and census-designated place in Union Township, Montgomery County, in the U.S. state of Indiana. It is a private community on the banks of its eponymous body of water, notable for its dam, size, and its scenic beauty. The community contains several parks as well as these subdivisions: Holiday Shores, Royal Hills, Imperial Woods, Wellington Villa, Cambridge Shores, Indian Hills, Sherwood Forest, and Seneca Hills. With more than 360 houses and 1,365 lots, Lake Holiday is larger than several incorporated towns in Montgomery County.