<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS, SCHEDULES AND OTHER DISCLOSURE CONTAINED IN FORM 10-K FOR THE YEAR
ENDED DECEMBER 31, 1997 OF SAUL CENTERS, INC. AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS, SCHEDULES AND OTHER DISCLOSURE.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                             688
<SECURITIES>                                         0
<RECEIVABLES>                                    6,190
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                         335,268
<DEPRECIATION>                                  92,615
<TOTAL-ASSETS>                                 260,942
<CURRENT-LIABILITIES>                                0
<BONDS>                                        284,473
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           124
<OTHER-SE>                                     (38,178)
<TOTAL-LIABILITY-AND-EQUITY>                   260,942
<SALES>                                              0
<TOTAL-REVENUES>                                67,717
<CGS>                                                0
<TOTAL-COSTS>                                   18,717
<OTHER-EXPENSES>                                 6,084
<LOSS-PROVISION>                                   505
<INTEREST-EXPENSE>                              22,037
<INCOME-PRETAX>                                 12,603
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             12,603
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                 (3,197)
<CHANGES>                                            0
<NET-INCOME>                                     2,552
<EPS-PRIMARY>                                     0.21
<EPS-DILUTED>                                     0.21