<ARTICLE> 5 <CIK> 0000785791 <NAME> ASSOCIATED PLANNERS REALTY FUND <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> JUN-30-1996 <CASH> 250,998 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 277,807 <PP&E> 6,813,502 <DEPRECIATION> (1,033,505) <TOTAL-ASSETS> 6,066,690 <CURRENT-LIABILITIES> 408,073 <BONDS> 1,225,950 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 4,432,666 <TOTAL-LIABILITY-AND-EQUITY> 6,066,690 <SALES> 352,098 <TOTAL-REVENUES> 355,800 <CGS> 232,824 <TOTAL-COSTS> 232,824 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 41,178 <INCOME-PRETAX> 81,798 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 81,798 <EPS-PRIMARY> 9.05 <EPS-DILUTED> 9.05