VANGUARD EQUITY INCOME FUND INC
NSAR-B, 1996-11-18
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001 A000000 VANGUARD EQUITY INCOME FUND, INC.
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020 A000001 FRANK RUSSELL SECURITIES, INC.
020 B000001 91-0604934
020 C000001    156
020 A000002 BROADCORT CAPITAL CORP.
020 B000002 13-3144415
020 C000002     62
020 A000003 PAINEWEBBER INCORPORATED
020 B000003 13-2638166
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020 A000004 MORGAN STANLEY & CO., INC.
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020 A000005 MERRILL LYNCH PIERCE FENNER & SMITH
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020 A000006 LEHMAN BROTHERS INC.
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020 A000007 ELKINS/MCSHERRY CO. INC.
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020 A000008 CAPITAL INSTITUTIONAL SERVICES, INC.
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020 A000009 SALOMON BROTHERS INC.
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020 A000010 BRIDGE TRADING CO.
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SIGNATURE   GARY P. SOURA                                
TITLE       SR. MANAGER         
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000826473
<NAME> VANGUARD EQUITY INCOME FUND, INC.
<MULTIPLIER> 1,000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          SEP-30-1996
<PERIOD-START>                             OCT-01-1995
<PERIOD-END>                               SEP-30-1996
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                           985004
<INVESTMENTS-AT-VALUE>                         1306423
<RECEIVABLES>                                    11294
<ASSETS-OTHER>                                     124
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 1317841
<PAYABLE-FOR-SECURITIES>                          5416
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         3044
<TOTAL-LIABILITIES>                               8460
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        939483
<SHARES-COMMON-STOCK>                            74022
<SHARES-COMMON-PRIOR>                            61798
<ACCUMULATED-NII-CURRENT>                        12932
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          35547
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        321419
<NET-ASSETS>                                   1309381
<DIVIDEND-INCOME>                                42929
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<OTHER-INCOME>                                       0
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<EQUALIZATION>                                    2104
<DISTRIBUTIONS-OF-INCOME>                        41545
<DISTRIBUTIONS-OF-GAINS>                         10870
<DISTRIBUTIONS-OTHER>                                0
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<PER-SHARE-NII>                                   0.63
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<PER-SHARE-DISTRIBUTIONS>                         0.17
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<EXPENSE-RATIO>                                   0.42
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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