This was 12.8 percent lower than the state average of 33.6 percent. In 2020 the total municipality population reached 515.
90.4 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Fancy Farm for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 37 | 9.6 |
| Regular high school diploma | 233 | 60.7 |
| GED or alternative credential | 29 | 7.6 |
| Some college, less than 1 year | 0 | 0 |
| Some college, 1 or more years, no degree | 5 | 1.3 |
| Associate's degree | 48 | 12.5 |
| Bachelor's degree | 21 | 5.5 |
| Master's degree | 11 | 2.9 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 0 | 0 |
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