<TABLE> <S> <C>

          <ARTICLE> 5
          <LEGEND>
           This schedule  contains summary financial  information extracted
          from the
          unaudited condensed  consolidated financial statements of T. Rowe
          Price
          Renaissance  Fund,  Ltd.,  A  Sales-Commission-Free  Real  Estate
          Investment included
          in the accompanying Form 10-Q  for the period ended September 30,
          1996 and is
          qualified   in  its  entirety  by  reference  to  such  financial
          statements.
          </LEGEND>
          <CIK> 0000852160
          <NAME>    T.   ROWE    PRICE    RENAISSANCE   FUND,    LTD.,    A
          SALES-COMMISSION-FRE
                 
          <S>                             <C>
          <PERIOD-TYPE>                   9-MOS
          <FISCAL-YEAR-END>                          DEC-31-1996
          <PERIOD-START>                             JAN-01-1996
          <PERIOD-END>                               SEP-30-1996
          <CASH>                                       1,221,000
          <SECURITIES>                                         0
          <RECEIVABLES>                                  230,000
          <ALLOWANCES>                                    85,000
          <INVENTORY>                                          0
          <CURRENT-ASSETS>                                     0<F1>
          <PP&E>                                      28,097,000
          <DEPRECIATION>                               1,926,000
          <TOTAL-ASSETS>                              27,760,000
          <CURRENT-LIABILITIES>                                0<F1>
          <BONDS>                                      8,683,000
          <PREFERRED-MANDATORY>                                0
          <PREFERRED>                                          0
          <COMMON>                                         1,000
          <OTHER-SE>                                  17,398,000
          <TOTAL-LIABILITY-AND-EQUITY>                27,760,000
          <SALES>                                              0
          <TOTAL-REVENUES>                             3,983,000
          <CGS>                                                0
          <TOTAL-COSTS>                                3,448,000
          <OTHER-EXPENSES>                                     0
          <LOSS-PROVISION>                                     0<F2>
          <INTEREST-EXPENSE>                                   0
          <INCOME-PRETAX>                                535,000
          <INCOME-TAX>                                         0
          <INCOME-CONTINUING>                            535,000
          <DISCONTINUED>                                       0

          












          <EXTRAORDINARY>                                      0
          <CHANGES>                                            0
          <NET-INCOME>                                   535,000
          <EPS-PRIMARY>                                      .35
          <EPS-DILUTED>                                        0
          <FN>
          <F1>Not contained in registrant's unclassifed balance sheet.
          <F2>Not reported at interim.
          </FN>