Graham is located northeast of Abilene along US 380 and Hwys 16 and 67, near Lake Graham and Possum Kingdom Lake, in Young County.
Among the leading industries of Graham in the 1980s were tourism, oil services, livestock-feed manufacture, and the production of electricity, magnetic tape, and fiberglass and aluminum aerospace equipment.
The estimated 1990 census was 8,986. There are several Texas Historical Commission markers in and around Graham.