<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001046404
<NAME> T. ROWE PRICE REAL ESTATE FUND
<S> <C>
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<PERIOD-END> JUN-30-2000
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 41384
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<SHARES-COMMON-PRIOR> 3049
<ACCUMULATED-NII-CURRENT> 181
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (3763)
<ACCUM-APPREC-OR-DEPREC> (607)
<NET-ASSETS> 37196
<DIVIDEND-INCOME> 861
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<OTHER-INCOME> 0
<EXPENSES-NET> 142
<NET-INVESTMENT-INCOME> 760
<REALIZED-GAINS-CURRENT> (326)
<APPREC-INCREASE-CURRENT> 3848
<NET-CHANGE-FROM-OPS> 4282
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (579)
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<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1604
<NUMBER-OF-SHARES-REDEEMED> 694
<SHARES-REINVESTED> 60
<NET-CHANGE-IN-ASSETS> 24725
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (3437)
<GROSS-ADVISORY-FEES> 15
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 142
<AVERAGE-NET-ASSETS> 28508
<PER-SHARE-NAV-BEGIN> 8.11
<PER-SHARE-NII> (0.16)
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<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.16)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.26
<EXPENSE-RATIO> 1
</TABLE>
