
<TABLE> <S> <C>

<PAGE>

<ARTICLE>                                       5
<LEGEND>
This schedule contains summary financial information extracted from financial
statements, schedules and other disclosure contained in Form 10-K for the period
ended December 31, 1996 of Saul Centers, Inc. and is qualified in its entirety
by reference to such financial statements, schedules and other disclosure.
</LEGEND>
<MULTIPLIER>            1,000

<S>                                             <C>
<PERIOD-TYPE>                                   12-MOS
<FISCAL-YEAR-END>                               DEC-31-1996
<PERIOD-END>                                    DEC-31-1996
<CASH>                                                      38
<SECURITIES>                                                 0
<RECEIVABLES>                                             7446
<ALLOWANCES>                                                 0
<INVENTORY>                                                  0
<CURRENT-ASSETS>                                             0
<PP&E>                                                  329664
<DEPRECIATION>                                           94965
<TOTAL-ASSETS>                                          263495
<CURRENT-LIABILITIES>                                        0
<BONDS>                                                 273261
<PREFERRED-MANDATORY>                                        0
<PREFERRED>                                                  0
<COMMON>                                                   121
<OTHER-SE>                                              (26482)
<TOTAL-LIABILITY-AND-EQUITY>                            263495
<SALES>                                                      0
<TOTAL-REVENUES>                                         64023
<CGS>                                                        0
<TOTAL-COSTS>                                            18929
<OTHER-EXPENSES>                                          5914
<LOSS-PROVISION>                                           457
<INTEREST-EXPENSE>                                       21366
<INCOME-PRETAX>                                           5851
<INCOME-TAX>                                                 0
<INCOME-CONTINUING>                                       5851
<DISCONTINUED>                                               0
<EXTRAORDINARY>                                              0
<CHANGES>                                                    0
<NET-INCOME>                                              5851
<EPS-PRIMARY>                                             0.49
<EPS-DILUTED>                                             0.49


</TABLE>
