Fancy Farm is an unincorporated community and census-designated place in Graves County, Kentucky, United States, 10 miles northwest of the county seat, Mayfield. As of the 2020 census it had a population of 403.Fancy Farm is on Kentucky Route 80 in the rural, far-western portion of the state called the Jackson Purchase. It was settled by Roman Catholics starting in 1829, and is known for being a strongly Catholic area. The community grew around St. Jerome Church, built in 1836.