40206 runs along Frankfort Avenue from Butchertown out through Clifton and Crescent Hill to the border of St. Matthews. Frankfort Avenue's restaurants, the Crescent Hill Reservoir, the Peterson-Dumesnil House and the Water Company's park grounds are the landmarks. It is a favorite for buyers who want a walkable street and a yard.
This page is part of the Louisville ZIP code guide from Winner Realty. The numbers come straight from the Louisville MLS, the listing links go to our live search, and the neighborhood links go to our full guides. If you want this ZIP watched for you, use the alert signup at the bottom and we will email new listings the morning they hit.
40206 by the numbers (Louisville MLS, October 2026)
- Homes for sale right now: 86 residential listings (up from 66 a year ago)
- Median asking price (October): $249,500
- Median sold price (October): $290,500
- Typical sold price over the last 12 months: about $280,000
- Homes sold in the last 12 months: 306 (about 26 a month)
- Average days on market (12-month average): 31 days
- Months of supply: about 3.4 months, which reads as a balanced market (Rob's rule of thumb is that about 3.5 months of supply is balanced)
Source: Louisville MLS (Metro Search) residential statistics for ZIP 40206, pulled November 8, 2026. Monthly medians move around in smaller ZIPs, so use the 12-month figures for pricing and the October figures for momentum. For the county-wide picture, see the Louisville Housing Market Report.
Neighborhoods and communities in 40206
Our full neighborhood guides cover housing stock, prices, history and what it is like to live there:
Not sure which part of 40206 fits you? The Louisville Neighborhood Matcher weighs your commute, budget and housing-type preferences across the metro.
What the homes look like
Shotguns and camelbacks in Clifton and Butchertown, 1900s–1930s frame and brick two-stories and bungalows in Crescent Hill, a few grand homes along Frankfort Avenue and Hillcrest, and new townhome and condo projects near Butchertown and the Mellwood corridor. Lots are deeper than the Highlands and alleys are common.
What your money buys in 40206
- Under $200,000: the entry point: smaller homes, homes that need updating, and the occasional estate sale. Expect competition from investors and first-time buyers.
- $200,000 to $375,000: the heart of the market here, right around the $280,000 typical sold price. Move-in-ready homes in this band are what most buyers in 40206 are shopping for.
- Over $375,000: the larger, updated or newer homes, bigger lots, and the top streets in the ZIP. These sit on the market a little longer and leave more room to negotiate.
Run a payment on any of these with the Kentucky mortgage payment calculator, and if you are a first-time buyer check the down payment assistance screener before you decide what you can afford.
Getting around
Frankfort Avenue is the spine, with the Crescent Hill Reservoir and golf course, Brownsboro Road shopping and I-71 and I-64 both close. Downtown and NuLu are 5 to 10 minutes west; St. Matthews is 5 minutes east.
Property taxes, schools and the practical details
Inside the Urban Services District. Crescent Hill and Clifton both have active preservation districts covering parts of the neighborhoods. The Beargrass Creek floodplain touches the low ground near Mellwood and Brownsboro Road, so check the flood zone before you fall in love with a house there.
Estimate the real bill for any address with the Jefferson County property tax calculator by taxing district, and if you are 65 or older or fully disabled, read about the homestead exemption on that page. School assignments: JCPS uses an address-based system with choice zones, so check the exact address in the district's official school finder at jefferson.kyschools.us rather than relying on a listing's school fields. Flood zones: a handful of Louisville ZIPs have creek and river floodplains, so review the Louisville flood zone guide before you write an offer.
Search homes for sale in 40206
See every home for sale in 40206 right now on our live MLS search (updated every few minutes from the Louisville MLS). Want the new ones before everyone else? Set up a 40206 listing alert and tell us your price range and must-haves; you get an email the morning a matching home hits the market, and a real person (not a bot) follows up only if you ask. Weekend plans? Check every open house in the Louisville area this weekend.
Selling a home in 40206?
Start with the instant home value estimate (no contact info required for the range) or the what is my house worth guide, then run your numbers through the seller net proceeds calculator. When you are ready to list, Winner Realty puts your home live on the MLS within three business days, guaranteed, syndicates it to Zillow, Realtor.com and 200-plus sites, and puts it in front of the 70,000-plus buyers on OffMarket.deals. If you would rather skip the showings, we will also bring you a cash offer so you can compare both paths side by side.
Frequently asked questions
What is the average home price in 40206?
The median sold price in 40206 over the last 12 months is about $280,000, and the median sold price in October 2026 was $290,500. The median asking price for homes currently listed is $249,500. Prices vary a lot by street and condition, so use these as a starting point and ask for comparable sales on the specific home.
Is 40206 a buyer's or seller's market right now?
With 86 homes for sale and about 26 sales a month, 40206 has roughly 3.4 months of supply. Rob's rule of thumb is that about 3.5 months is balanced, so this currently reads as a balanced market. Inventory across Louisville is up sharply from a year ago, which gives buyers more choice than they have had since 2019.
How fast do homes sell in 40206?
Over the last 12 months, homes in 40206 averaged 31 days on market before going under contract. Well-priced, move-in-ready homes go faster than that; homes that need work or are priced for last year's market sit longer.
Which neighborhoods are in ZIP code 40206?
40206 includes Clifton and Clifton Heights, Crescent Hill, NuLu and Butchertown and nearby areas. ZIP boundaries don't always match neighborhood names exactly, so a home's listing may show a neighborhood name from a neighboring ZIP. The neighborhood guides linked above describe each area in detail.
How do I get alerts for new listings in 40206?
Use the listing alert signup linked on this page and tell us the ZIP, your price range and must-haves. New matching homes are emailed to you the morning they hit the MLS. You can also search 40206 directly on our live MLS search any time.
Rob Bergeron is Owner–Realtor at Award-Winning Winner Realty in Louisville, Kentucky (Lisa Tucker, Principal Broker, licensed in Kentucky and Indiana). Email me with any questions: Rob@thewinnerrealty.com. Explore more ZIP codes on the Louisville ZIP code guide or browse all Louisville neighborhood guides.