Fairchance is a borough in Fayette County, Pennsylvania, United States.

Pennsylvania Route 43, the Mon–Fayette Expressway, passes just west of the borough limits, with access from Exit 8 (Big 6 Road).

According to the United States Census Bureau, the borough has a total area of 1.20 square miles (3.11 km2), all land.

The story goes that travelers from Morgantown, West Virginia, who made it to the borough by 4:00 P.M. had a "fair chance" of making it to Uniontown before sundown.

Another explanation cited in the book Fairchance Through the Years, compiled by the Fairchance Centennial History Committee, is that Fidelio H. Oliphant, who operated iron furnaces in the area, went to a bank in Uniontown to borrow money with the assurance that he had a "fair chance" of paying it back.