ACS 5-year estimates, or multiyear estimates, are data collected over a 60-month period and describe that multiyear period. In comparison ACS 1-year estimates are data collected for a 12-month period. The Census Bureau at one time also released ACS 3-year estimates, but they were discontinued after the 2011-2013 release.
5-year estimates:
Learn more on the When to Use 1-year or 5-year Estimates page.