<ARTICLE>                     5
<LEGEND>
     THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 
     FINANCIAL STATEMENTS OF GABLES REALTY LIMITED PARTNERSHIP FOR THE YEAR
     ENDED DECEMBER 31, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
     TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK>                         0001039797
<NAME>                        GABLES REALTY LIMITED PARTNERSHIP
<MULTIPLIER>                                   1000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>               DEC-31-1996
<PERIOD-START>                  JAN-01-1996
<PERIOD-END>                    DEC-31-1996
<CASH>                          12,815
<SECURITIES>                    0
<RECEIVABLES>                   21,505
<ALLOWANCES>                    0
<INVENTORY>                     0
<CURRENT-ASSETS>                0
<PP&E>                          784,600
<DEPRECIATION>                  74,903
<TOTAL-ASSETS>                  759,660
<CURRENT-LIABILITIES>           0
<BONDS>                         390,321
<PREFERRED-MANDATORY>           0
<PREFERRED>                     0
<COMMON>                        0
<OTHER-SE>                      332,908
<TOTAL-LIABILITY-AND-EQUITY>    759,660
<SALES>                         0
<TOTAL-REVENUES>                116,181
<CGS>                           0
<TOTAL-COSTS>                   66,247
<OTHER-EXPENSES>                0
<LOSS-PROVISION>                0
<INTEREST-EXPENSE>              23,036
<INCOME-PRETAX>                 27,541
<INCOME-TAX>                    0
<INCOME-CONTINUING>             27,541
<DISCONTINUED>                  0
<EXTRAORDINARY>                 631
<CHANGES>                       0
<NET-INCOME>                    26,910
<EPS-PRIMARY>                   1.33 
<EPS-DILUTED>                   0