Welcome to The Residences on 56th Street - the most exclusive address for apartment rentals in Indianapolis. When trying to find apartments for rent, this apartment community is located in Lawrence Township in Lawrence City School District. R56 has just finalized a full-scale modern apartment renovation project which boasts the trendiest finishes in the Indianapolis market. Newly designed rental apartments include White Quartz Countertops, Soft-Close Espresso Cabinets, Stainless Steel Appliances, Hardwood Plank Flooring, Custom LED Lighting, Brushed Nickel Finishes - all with masterful architecture. The Residences on 56th Street welcomes the whole family with Pet-Friendly Apartment homes - no weight or breed restrictions. Coming in 2019, the apartment community, R56, will be completing stunning upgrades to the amenity package that will include a Brand New: Clubhouse, Swimming Pool, Splash Pad, Commercial Grade Fitness Center, Game Room, and much more. Poised in the perfect location, R56 is moments away from all major employers, such as: Anthem, Eli Lilly and Company, Calumet Specialty Products, and many others. Moments from Fort Benjamin Harrison and Harrison State Park, The Residences on 56th Street is the ideal location. Come and tour our pet-friendly apartment community today - the best sources of apartment rentals in Indianapolis.
To comfortably afford an apartment, we recommend having at least three times your monthy rent in gross household income.
View suggested annual incomes for The Residences On 56th Street by bedroom type below.
1 Bedroom
Suggested income:
$33,000
per year
2 Bedroom
Suggested income:
$38,800
per year
3 Bedroom
Suggested income:
$53,100
per year
Rent report
The Residences On 56th Street Rent vs. Indianapolis Average
The Residences On 56th Street
Indianapolis Average
1BR
$917
$1,032
$0
$350
$700
$1,050
$1,400
2BR
$1,079
$1,266
$0
$450
$900
$1,350
$1,800
3BR
$1,474
$1,559
$0
$550
$1,100
$1,650
$2,200
The Residences On 56th Street is asking 11%
less than the average 1 bedroom apartment in
Indianapolis.
If you upsized to an average priced Indianapolis 2 bedroom apartment, you would pay
18% more per month.
If you downsized to an average priced Indianapolis studio apartment,
you would pay 13% less per month.
The Residences On 56th Street provides 21%
more square footage than the average
Indianapolis 1 bedroom apartment.
Monthly Rent
Rent per Sq. Ft.
Suggested Monthly Income
The Residences On 56th Street
1BR
$917
$1.10
$2,751
2BR
$1,079
$1.00
$3,237
3BR
$1,474
$0.90
$4,422
Indianapolis Average
Studio
$911
$2.00
$2,733
1BR
$1,032
$1.50
$3,096
2BR
$1,266
$1.30
$3,798
3BR
$1,559
$1.10
$4,676
4BR
$1,820
$0.90
$5,461
Availability in Indianapolis
In order to find the best deal, you need to know what types of units are available. Property managers may be willing to
give concessions if they have many vacant units.
There are currently 1,266 1BR
units on the market in Indianapolis. If you're looking to negotiate, this may be your best option.