In the late 1990s the town was listed by a contributor to the knowhere guide as "the most boring place on Earth" The contribution was specifically referring to Wednesday afternoon which is 'early closing' in Fakenham. This comment, made by an individual, was taken and quoted out of context as "voted the most boring place on Earth" and very rapidly the story was running in national newspapers with the town council defending the town and spending considerable time, money and effort trying to prove that this was not the case.

Recent investment in Fakenham has seen the town centre being renovated and pedestrianised. It now enjoys a popular farmers' market on the morning of the 4th Saturday of each month.