<ARTICLE> 5 <CIK> 0000277925 <NAME> Public Storage Properties V, Ltd. <MULTIPLIER> 1 <CURRENCY> US <PERIOD-TYPE> 9-mos <FISCAL-YEAR-END> Dec-31-1997 <PERIOD-START> Jan-1-1997 <PERIOD-END> Sep-30-1997 <EXCHANGE-RATE> 1 <CASH> 3,676,000 <SECURITIES> 14,215,000 <RECEIVABLES> 135,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 18,026,000 <PP&E> 19,769,000 <DEPRECIATION> (9,664,000) <TOTAL-ASSETS> 28,350,000 <CURRENT-LIABILITIES> 348,000 <BONDS> 22,396,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 5,606,000 <TOTAL-LIABILITY-AND-EQUITY> 28,350,000 <SALES> 0 <TOTAL-REVENUES> 5,663,000 <CGS> 0 <TOTAL-COSTS> 1,581,000 <OTHER-EXPENSES> 679,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,880,000 <INCOME-PRETAX> 1,523,000 <INCOME-TAX> 0 <INCOME-CONTINUING> 1,523,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,523,000 <EPS-PRIMARY> 34.27 <EPS-DILUTED> 34.27