WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Shelter
Properties V Limited Partnership 1997 First Quarter 10-QSB and is qualified
in its entirety by reference to such 10-QSB filing.
</LEGEND>
<CIK> 0000712753
<NAME> SHELTER PROPERTIES V LIMITED PARTNERSHIP
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          NOV-30-1997
<PERIOD-END>                               FEB-28-1997
<CASH>                                           2,668
<SECURITIES>                                         0
<RECEIVABLES>                                       28
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F1>
<PP&E>                                          74,331
<DEPRECIATION>                                (38,181)
<TOTAL-ASSETS>                                  41,672
<CURRENT-LIABILITIES>                                0<F1>
<BONDS>                                         31,795
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                       8,841
<TOTAL-LIABILITY-AND-EQUITY>                    41,672
<SALES>                                              0
<TOTAL-REVENUES>                                 3,318
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 3,235
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 695
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                        83
<EPS-PRIMARY>                                     1.56<F2>
<EPS-DILUTED>                            
<FN>
<F1>Registrant has an unclassified balance sheet.
<F2>Multiplier is 1
</FN>