Gould was born in New York City to Angela and Edwin Gould. Shortly after his birth, due to his father's military career, he and his parents moved to Phenix City, Alabama, and when Gould was five years old, the family moved to California. His elder brother Aidan is also an actor.
Nolan Gould is a member of Mensa, and as of 2012, had accelerated ten grades in school. He stated on The Ellen Degeneres Show that he has an IQ of 150. During the 2012 summer, at age 13, he graduated from high school by taking a General Educational Development (GED) Test and said he hopes to take online college courses.
Gould began his career at the age of three doing commercials. Recent films include leads in the features Ghoul (based on the novel by Brian Keene) and Space Buddies.