<ARTICLE> 5 <CIK> 0000877860 <NAME> NATIONAL HEALTH INVESTORS, INC. <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 3,756,000 <SECURITIES> 0 <RECEIVABLES> 572,613,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 213,253,000 <DEPRECIATION> (30,824,000) <TOTAL-ASSETS> 767,533,000 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 23,582,000 <COMMON> 243,000 <OTHER-SE> 407,906,000 <TOTAL-LIABILITY-AND-EQUITY> 767,533,000 <SALES> 0 <TOTAL-REVENUES> 26,445,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 945,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 5,430,000 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 17,942,000 <EPS-PRIMARY> .73 <EPS-DILUTED> .71