<ARTICLE>                     5
<LEGEND>
     THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE FINANCIAL
     STATEMENTS OF GABLES RESIDENTIAL TRUST FOR THE THREE MONTHS ENDED MARCH
     31, 1998, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
     STATEMENTS.
</LEGEND>
<CIK>                                          0000913782        
<NAME>                                         GABLES RESIDENTIAL TRUST
<MULTIPLIER>                                   1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-START>                                 JAN-01-1998
<PERIOD-END>                                   MAR-31-1998
<CASH>                                         9,786
<SECURITIES>                                   0
<RECEIVABLES>                                  0
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               0
<PP&E>                                         1,086,908
<DEPRECIATION>                                 105,699
<TOTAL-ASSETS>                                 1,010,335
<CURRENT-LIABILITIES>                          0
<BONDS>                                        479,117
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    115,000
<COMMON>                                       221
<OTHER-SE>                                     332,158
<TOTAL-LIABILITY-AND-EQUITY>                   1,010,335
<SALES>                                        0
<TOTAL-REVENUES>                               41,490
<CGS>                                          0
<TOTAL-COSTS>                                  23,940
<OTHER-EXPENSES>                               1,811
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             6,678
<INCOME-PRETAX>                                8,139
<INCOME-TAX>                                   0
<INCOME-CONTINUING>                            8,139
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   8,139
<EPS-PRIMARY>                                  0.26
<EPS-DILUTED>                                  0.26