<ARTICLE> 5 <CIK> 0000808420 <NAME> ASSOCIATED PLANNERS REALTY INCOME FUND <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> DEC-31-1996 <CASH> 72,207 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 112,143 <PP&E> 4,887,188 <DEPRECIATION> (726,546) <TOTAL-ASSETS> 4,275,221 <CURRENT-LIABILITIES> 33,154 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 4,242,067 <TOTAL-LIABILITY-AND-EQUITY> 4,275,221 <SALES> 409,995 <TOTAL-REVENUES> 424,537 <CGS> 256,127 <TOTAL-COSTS> 256,127 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 168,410 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 168,410 <EPS-PRIMARY> 27.97 <EPS-DILUTED> 27.97