Farnam is located in southwest Dawson County with Lincoln County one-half mile west and Frontier County one-half mile south.
Keystone, situated two miles east of where Farnam is located today, was the original site of the early settlers of Farnam who later moved to what is Farnam.
Farnam was named in honor of Henry Farnam, a railroad builder and philanthropist who was born in New York in 1803.
Community activities each year include a community carnival February 23 and Founder’s Day, a weekend of activities set for June.
Also in the spring is an annual Easter Egg Hunt for the smaller children.