HOW ABOUT A DWARF ALBERTA SPRUCE. THEY ARE SMALL, HARDY, AND WILL KEEP YOUR BALCONY GREEN ALL YEAR LONG.

I know there is a new bannana tree out there that is quite hardy. Not exactly how far north, but I seem to recall zone 5 was a-ok. I'm in zone 6 and was tempted when I read about it.

Shannon

Your best bet is visiting a local nursery and telling them about your conditions -- a windy full-sun zone 5 location will be tough on many plants, and you want something that not only will survive, but actually look good under those conditions.
I'm afraid a hardy banana (musa basjoo or similar) will get shredded by the wind and need more water than you can give it.

A few suggestions:

red osier (cornus sericea)
alpine spirea (spirea japonica var. alpina)
chokeberry (aronia arbutifolia or melanocarpa)
American cranberry bush (viburnum trilobum)
Amur maple (acer ginnala)

Check 'em out!

Jim

Me too, I want a tree on my balcony. Occasional winds and southern and west sun. I am in zone 4, Minnesota, so it needs to be pretty hardy. I can remove it and put it in my insulated but not heated garage for winter if necessary. I know the pine would need to be sheltered from sun in winter..
I would love a birch. And/or a pine. But my balcony is only 10x12. Faux balcony I call it.

I wonder if you can try a Jack Pine. They are supposedly hardy to Zone 2 or less and can barely survive down here where I am due to the climate and muggy hot summers and warm falls. They are naturalized all up in your area and further north as a native. In that instance, you may not have to do that much to protect it other than perhaps keep it out of the winds. Of course they can become huge trees but oddly enough, some of those inexpensive "mini" bonsai kits come with Jack Pine seeds for starting.

Here is a link that might be useful: Jack Pine

Wow, you all have provided some really good suggestions. As soon as I get to the nursery and choose something I'll be sure to post about what I chose. Thanks for your ideas!