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<PAGE> PAGE 4
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SIGNATURE B. R. VANDERPOOL
TITLE MUT FD MGR.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000093716
<NAME> STATE FARM BALANCED FUND, INC.
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-END> NOV-30-1997
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<INVESTMENTS-AT-VALUE> 759728729
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<OTHER-ITEMS-ASSETS> 0
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<TOTAL-LIABILITIES> 1963087
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 448387440
<SHARES-COMMON-STOCK> 16538194
<SHARES-COMMON-PRIOR> 14894201
<ACCUMULATED-NII-CURRENT> 22642290
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 11354841
<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 762279197
<DIVIDEND-INCOME> 6930199<F1>
<INTEREST-INCOME> 17286259
<OTHER-INCOME> 0
<EXPENSES-NET> 960272
<NET-INVESTMENT-INCOME> 23256186
<REALIZED-GAINS-CURRENT> 11354841
<APPREC-INCREASE-CURRENT> 77000826
<NET-CHANGE-FROM-OPS> 111611853
<EQUALIZATION> 728764
<DISTRIBUTIONS-OF-INCOME> (22824265)<F2>
<DISTRIBUTIONS-OF-GAINS> (19696852)<F3>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2605702
<NUMBER-OF-SHARES-REDEEMED> 1979036
<SHARES-REINVESTED> 1017327
<NET-CHANGE-IN-ASSETS> 136185731
<ACCUMULATED-NII-PRIOR> 21481605
<ACCUMULATED-GAINS-PRIOR> 19696852
<OVERDISTRIB-NII-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 42.04
<PER-SHARE-NII> 1.40
<PER-SHARE-GAIN-APPREC> 5.45
<PER-SHARE-DIVIDEND> (1.47)
<PER-SHARE-DISTRIBUTIONS> (1.33)
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<AVG-DEBT-OUTSTANDING> 0
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<FN>
<F1>Net of foreign withholding taxes of $83,157
<F2>Per share $1.47
<F3>Per share $1.33
</FN>
</TABLE>
