<ARTICLE>                     5
<LEGEND>
THIS  SCHEDULE  CONTAINS  SUMMARY  FINANCIAL   INFORMAITON  EXTRACTED  FROM  THE
FINANCIAL STATEMENTS OF GABLES RESIDENTIAL TRUST FOR THE YEAR ENDED DECEMBER 31,
1997, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
<MULTIPLIER>                                   1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 JAN-01-1997
<PERIOD-END>                                   DEC-31-1997
<CASH>                                         7,677
<SECURITIES>                                   0
<RECEIVABLES>                                  0
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               0
<PP&E>                                         1,056,228
<DEPRECIATION>                                 98,236
<TOTAL-ASSETS>                                 981,167
<CURRENT-LIABILITIES>                          0
<BONDS>                                        435,362
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    115,000
<COMMON>                                       220
<OTHER-SE>                                     336,218
<TOTAL-LIABILITY-AND-EQUITY>                   981,167
<SALES>                                        0
<TOTAL-REVENUES>                               143,438
<CGS>                                          0
<TOTAL-COSTS>                                  81,730
<OTHER-EXPENSES>                               1,178
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             26,305
<INCOME-PRETAX>                                36,102
<INCOME-TAX>                                   0
<INCOME-CONTINUING>                            30,491
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                602
<CHANGES>                                      0
<NET-INCOME>                                   29,889
<EPS-PRIMARY>                                  1.51
<EPS-DILUTED>                                  1.50