Depends from person to person, but overall:
Elite runners (5K to Marathon) are usually somewhere between 10-14 hours, but they have got plenty of time for recovery, getting massages, ...
They're also pushing their body to the absolute limit.
8 hours per week of running might get Rupp to 13:30, but he needs those extra 2-6 hours a week to get to 12:58.
If you're serious about running and want to run close to your best without sacrificing too much, I'd run 7.5 hours: 1 hour a day, 90 minute long run, 2 (semi-)hard workouts.
If you really want to get every last second out of your body, add a 30 minute easy run every morning. That makes for a total of 11 hours a week - which equals about 110 miles per week for a fast runner - and that should be all that's necessary for a 5K (in my opinion)