<ARTICLE> 5 <LEGEND> The schedule contains summary financial information extracted from the balance sheet and statement of income and is qualified in its entirety by reference to such financial statements. </LEGEND> <CIK> 0000832091 <NAME> KRUPP INSURED PLUS III LIMITED PARTNERSHIP <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> DEC-31-1997 <CASH> 35,473,221 <SECURITIES> 133,386,352<F1> <RECEIVABLES> 949,618 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,836,269<F2> <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 173,645,460 <CURRENT-LIABILITIES> 170,568 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 172,330,556<F3> <OTHER-SE> 1,144,336<F4> <TOTAL-LIABILITY-AND-EQUITY> 173,645,460 <SALES> 0 <TOTAL-REVENUES> 18,896,423<F5> <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 4,002,900<F6> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 14,893,523 <INCOME-TAX> 0 <INCOME-CONTINUING> 14,893,523 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 14,893,523 <EPS-PRIMARY> 0<F7> <EPS-DILUTED> 0<F7> <FN> <F1>Includes Participating Insured Mortgages ("PIMs") of $104,165,895 and Mortgage-Backed Securities ("MBS") of $29,220,457. <F2>Includes prepaid acquisition fees and expenses of $8,823,727 net of accumulated amortization of $5,921,472 and prepaid participation servicing fees of $2,614,951 net of accumulated amortization of $1,680,937. <F3>Represents total equity of General Partners and Limited Partners. General Partners deficit of ($78,838) and Limited Partners equity of $172,409,394. <F4>Unrealized gain on MBS. <F5>Represents interest income on investments in mortgages and cash. <F6>Includes $2,452,816 of amortization of prepaid fees and expenses. <F7>Net income allocated $446,806 to the General Partners and $14,446,717 to the Limited Partners. Avergage net income per Limited Partner interest is $1.13 on 12,770,261 Limited Partner interest outstanding. </FN>