The Society of Friends had become established there by the mid-17th century. One Quaker family, the Clarks, started a business in sheepskin rugs, woollen slippers and, later, boots and shoes. This became C&J Clark which still has its headquarters in Street, but shoes are no longer manufactured there. Instead, in 1993, redundant factory buildings were converted to form Clarks Village, the first purpose-built factory outlet in the United Kingdom. The Shoe Museum provides information about the history of Clarks and footwear manufacture in general.
The Clark family's former mansion and its estate at the edge of the town are now owned by Millfield School, an independent co-educational boarding school. Street is also home to Crispin School and Strode College.
To the north of Street is the River Brue, which marks the boundary with Glastonbury. South of Street are the Walton and Ivythorn Hills and East Polden Grasslands biological Sites of Special Scientific Interest. Street has two public swimming pools, one indoor which is part of the Strode complex, and the outdoor lido, Greenbank. Strode Theatre provides a venue for films, exhibitions and live performances. The Anglican Parish Church of The Holy Trinity dates from the 14th century and has been designated by English Heritage as a Grade I listed building.
The settlement's earliest known name is Lantokay, meaning the sacred enclosure of Kea, a Celtic saint. In the Domesday Book it was recorded as Strate, and also Lega, a name still used throughout the country in the modern form, "Leigh". The centre of Street is where Lower Leigh hamlet was, and the road called Middle Leigh and the community called Overleigh are to the south of the village. In the 12th century, a causeway from Glastonbury was built to transport stone from what is now Street for rebuilding Glastonbury Abbey after a fire, and Street's name is derived from the Latin strata – a paved road. The causeway is about 100 yards (90 m) north of a Roman road.