<ARTICLE> 5 <CIK> 0000808420 <NAME> ASSOCIATED PLANNERS REALTY INCOME FUND <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> JUN-30-1996 <CASH> 199,973 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 268,188 <PP&E> 4,699,187 <DEPRECIATION> (675,449) <TOTAL-ASSETS> 4,301,345 <CURRENT-LIABILITIES> 29,031 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 4,272,314 <TOTAL-LIABILITY-AND-EQUITY> 4,301,345 <SALES> 201,959 <TOTAL-REVENUES> 212,771 <CGS> 127,302 <TOTAL-COSTS> 127,302 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 85,469 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 85,469 <EPS-PRIMARY> 14.23 <EPS-DILUTED> 14.23