<ARTICLE> 5 <LEGEND> this schedule contains summary financial information extracted from Krupp Realty Fund 7 financial statements for the year ended December 31, 1996 and is qualified in ts entirety by reference to such financial statements </LEGEND> <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> DEC-31-1996 <CASH> 1,177,332 <SECURITIES> 0 <RECEIVABLES> 185,867 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 487,894 <PP&E> 29,193,001<F1> <DEPRECIATION> (14,188,500)<F2> <TOTAL-ASSETS> 16,855,594 <CURRENT-LIABILITIES> 853,850 <BONDS> 12,562,165<F3> <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 3,439,579<F4> <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 16,855,594 <SALES> 0 <TOTAL-REVENUES> 4,688,515<F5> <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 3,574,400<F6> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,103,602 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 10,513<F7> <EPS-PRIMARY> 0<F7> <EPS-DILUTED> 0<F7> <FN> <F1>Represents apartment complexes of $19,190,834, retail centerof $9,714,873 and deferred mortgage costs of $287,294. <F2>Includes accumulated depreciation of (14,097,123) and amortization of deferred mortgage cost of (91,377). <F3>Represents mortgage notes payable. <F4>Represents total equity (deficit) for the General and Limited Partners of ($248,136) and ($3,687,715), respectively. <F5>Includes all revenues of the Partnership. <F6>Includes operating expenses of $1,781,759, real estate taxes of $466,876 and depreciation and amortization of $1,325,765. <F7>Net income allocated $210 to the General Partners and $10,303 to the limited partners for the years ended 12/31/96. Average net income per unit of limited partner interest is .35 on 27,184 units outstanding. </FN>