<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from Krupp Fund 7 financial statements for the six months ending June 30, 1996 and is qualified in its entirety by reference to such finanial statements. </LEGEND> <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> JUN-30-1996 <CASH> 1,428,873 <SECURITIES> 0 <RECEIVABLES> 221,381<F1> <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 397,619 <PP&E> 28,652,678<F2> <DEPRECIATION> (13,500,174)<F3> <TOTAL-ASSETS> 17,200,377 <CURRENT-LIABILITIES> 758,074 <BONDS> 12,655,009<F4> <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 3,787,294<F5> <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 17,200,377 <SALES> 0 <TOTAL-REVENUES> 2,326,730<F6> <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1,716,858<F7> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 553,688 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 56,184<F8> <EPS-PRIMARY> 0<F8> <EPS-DILUTED> 0<F8> <FN> <F1>Includes all receivables included in "prepaid expenses and other assets" on the balance sheet. <F2>Includes apartment complexes of $18,698,219, retail center of $9,667,165 deferred expenses of $287,294. <F3>Accumulated depreciation of $13,426,730 and accumulated amortization of deferred expenses of $73,444. <F4>Represents mortgage notes payable. <F5>Total deficit of general partners of ($241,182) and equity of limited partners $4,028,476. <F6>Represents total revenue of the Partnership. <F7>Includes operating expenses of $856,863, real estate taxes of $222,556, and depreciation and amortization of $637,439. <F8>Net income allocated $1,123 to the general partners and $55,061 to the limited partners. Average net income per unit of limited parnter interest is $2.38 on 27,184 units outstanding. </FN>