<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001031661
<NAME> THIRD AVENUE FUNDS
<SERIES>
<NUMBER> 04
<NAME> THIRD AVENUE REAL ESTATE VALUE FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> NOV-01-1999
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 21397572
<INVESTMENTS-AT-VALUE> 24127082
<RECEIVABLES> 185534
<ASSETS-OTHER> 344
<OTHER-ITEMS-ASSETS> 10379
<TOTAL-ASSETS> 24323339
<PAYABLE-FOR-SECURITIES> 269123
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 89260
<TOTAL-LIABILITIES> 358383
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 20136017
<SHARES-COMMON-STOCK> 1756328
<SHARES-COMMON-PRIOR> 749696
<ACCUMULATED-NII-CURRENT> 538778
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 560651
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2729510
<NET-ASSETS> 23964956
<DIVIDEND-INCOME> 553363
<INTEREST-INCOME> 311754
<OTHER-INCOME> 24
<EXPENSES-NET> 240750
<NET-INVESTMENT-INCOME> 624391
<REALIZED-GAINS-CURRENT> 558562
<APPREC-INCREASE-CURRENT> 2724624
<NET-CHANGE-FROM-OPS> 3907577
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (233622)
<DISTRIBUTIONS-OF-GAINS> (54698)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1373638
<NUMBER-OF-SHARES-REDEEMED> 392223
<SHARES-REINVESTED> 25217
<NET-CHANGE-IN-ASSETS> 15652643
<ACCUMULATED-NII-PRIOR> 150484
<ACCUMULATED-GAINS-PRIOR> 4886
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 144365
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 413902
<AVERAGE-NET-ASSETS> 16085789
<PER-SHARE-NAV-BEGIN> 11.09
<PER-SHARE-NII> 0.36
<PER-SHARE-GAIN-APPREC> 2.50
<PER-SHARE-DIVIDEND> (0.25)
<PER-SHARE-DISTRIBUTIONS> (0.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.64
<EXPENSE-RATIO> 2.58
</TABLE>
