<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Shelter
Properties V 1996 First Quarter 10-QSB and is qualified in its entirety by
reference to such 10-QSB.
</LEGEND>
<CIK> 0000712753
<NAME> SHELTER PROPERTIES V
<MULTIPLIER> 1
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-END>                               FEB-29-1996
<CASH>                                       3,565,464
<SECURITIES>                                         0
<RECEIVABLES>                                   32,892
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F1>
<PP&E>                                      73,034,853
<DEPRECIATION>                              35,141,192
<TOTAL-ASSETS>                              43,498,473
<CURRENT-LIABILITIES>                                0<F1>
<BONDS>                                     28,794,212
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                  13,370,348
<TOTAL-LIABILITY-AND-EQUITY>                43,498,473
<SALES>                                              0
<TOTAL-REVENUES>                             3,165,003
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             3,054,121
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             678,487
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   110,882
<EPS-PRIMARY>                                     2.09
<EPS-DILUTED>                                        0
<FN>
<F1>The Partnership has an unclassified balance sheet.
</FN>