Located in this suburb is Farrer Primary School and neighbourhood oval, a Croatian Catholic parish centre, the Serbian Orthodox Church of St Sava, a small shopping centre, the Long Gully scout hall and the Goodwin Village for elderly citizens.

It was named on 12 May 1966, after William James Farrer, who had lived in the area late in the 19th century, making a significant contribution to wheat-breeding in New South Wales by producing climate species, thus extending the wheat-belt and enabling the breeding of resistant wheat.

The suburb's size resulted in possession of its own oval, located next to the primary school, a scout hall for the local group named Long Gully.

Four playgrounds are at various locations, with the main one 'Farrer Nature Play & Adventure Trail' adjacent to the Scout Hall.

While the small convenience store is often frequented by locals, Farrer is in proximity to Southlands Shopping Centre at Mawson and Woden Plaza in Phillip, only 4.2 kilometres (2.6 mi) away.