<ARTICLE> 5 <CIK> 0000277925 <NAME> Public Storage Properties V, Ltd. <MULTIPLIER> 1 <CURRENCY> US <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> Dec-31-1998 <PERIOD-START> Jan-01-1998 <PERIOD-END> Mar-31-1998 <EXCHANGE-RATE> 1 <CASH> 3,631,000 <SECURITIES> 16,004,000 <RECEIVABLES> 124,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 19,925,000 <PP&E> 20,008,000 <DEPRECIATION> (10,092,000) <TOTAL-ASSETS> 29,841,000 <CURRENT-LIABILITIES> 347,000 <BONDS> 22,145,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 7,349,000 <TOTAL-LIABILITY-AND-EQUITY> 29,841,000 <SALES> 0 <TOTAL-REVENUES> 1,948,000 <CGS> 0 <TOTAL-COSTS> 590,000 <OTHER-EXPENSES> 232,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 613,000 <INCOME-PRETAX> 513,000 <INCOME-TAX> 0 <INCOME-CONTINUING> 513,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 513,000 <EPS-PRIMARY> 11.55 <EPS-DILUTED> 11.55