It would be good to know which end of Farringdon Road you'll be at. They are somewhat different.
I'd agree that it is generally considered Clerkenwell. As Jennifer accurately mentioned, transport is less than perfect. There is Farringdon tube/train station, and there is a sprinkling of buses - Farringdon Road isn't well served by buses. Just the 63 (Kings Cross to Blackfriars and onwards to Elephant and Castle) and the 341 (from the Angel and beyond to Waterloo via Fleet Street and Waterloo Bridge). The spider map of the area is at https://content.tfl.gov.uk/bus-route-maps/clerkenwell-a4-170421.pdf
The road can reflect variously, Kings Cross, the Mount Pleasant and Rosebury area, then into what was the Italian quarter, an area of reconstruction, then the Smithfield Meat Market, and then the southern end is in The City, the financial centre.