FORM 10-Q

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

(Mark One)

(X)   QUARTERLY REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended September 30, 2000

or

( )   TRANSITION REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______
Commission file number        0-17696



AMERICAN AFFORDABLE HOUSING II LIMITED PARTNERSHIP (Exact name of registrant as specified in its charter)



|Massachusetts                     | 04-2992309         
|--------------------------------- | -------------------
|(State or other jurisdiction      | (I.R.S. Employer   
|of incorporation or organization) | Identification No.)



One Boston Place, Suite 2100, Boston, Massachusetts  02108(Address of principal executive offices)           (Zip Code)

Registrants telephone number, including area code (617)624-8900

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceeding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.



|Yes | X |  | No | _
|--- | - |  | -- | -









AMERICAN AFFORDABLE HOUSING II LIMITED PARTNERSHIP



QUARTERLY REPORT ON FORM 10-QFOR THE QUARTER ENDED September 30, 2000



TABLE OF CONTENTS

FOR THE QUARTER ENDED sEPTEMBER 30, 2000

BALANCE SHEETS

STATEMENTS OF OPERATIONS

Three Months Ended september 30,

six months ended september 30,                                               5

STATEMENTS OF CHANGES IN PARTNERS CAPITAL	 6

STATEMENTS OF CASH FLOWS

THREE Months Ended september 30,	 7

six months ended september 30,

NOTES TO FINANCIAL STATEMENTS

NOTE A - ORGANIZATION	8

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES	8

Cost

NOTE C - RELATED PARTY TRANSACTIONS	 9

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS	10

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS	11

Liquidity	12

Capital Resources	13

Results of Operations	13

PART II - OTHER INFORMATION	15

SIGNATURES	16



American Affordable Housing II Limited Partnership
BALANCE SHEETS
ASSETS



|                                                                                                                                               | September 30,
2000
(Unaudited) | March 31,
2000
(Audited)
|---------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------ | ------------------------
|                                                                                                                                               |                                |                         
|INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)                                                                                                 | $ 2,031,206                    | $ 2,169,618             
|                                                                                                                                               |                                |                         
|OTHER ASSETS                                                                                                                                   |                                |                         
|Cash and cash equivalents                                                                                                                      | 3,019                          | 12,021                  
|Notes receivable                                                                                                                               | 40,000                         | 40,000                  
|Other assets                                                                                                                                   | 11,734                         | 8,849                   
|                                                                                                                                               |                                |                         
|                                                                                                                                               | $2,085,959                     | $2,230,488              
|                                                                                                                                               |                                |                         
|LIABILITIES                                                                                                                                    |                                |                         
|                                                                                                                                               |                                |                         
|Accounts payable affiliates                                                                                                                    | 5,177,748                      | 4,949,165               
|Accounts payable                                                                                                                               | -                              | -                       
|                                                                                                                                               | 5,177,748                      | 4,949,165               
|                                                                                                                                               |                                |                         
|PARTNERS CAPITAL                                                                                                                               |                                |                         
|                                                                                                                                               |                                |                         
|Limited Partners

Units of limited partnership 
   interest, $1,000 stated value per
   unit; issued and outstanding,
   26,501 units (note A) | (2,830,965)                    | (2,461,584)             
|General Partners                                                                                                                               | (260,824)                      | (257,093)               
|                                                                                                                                               | (3,091,789)                    | (2,718,677)             
|                                                                                                                                               | $2,085,959                     | $2,230,488              













The accompanying notes are an integral part of this statement

American Affordable Housing II Limited Partnership
STATEMENTS OF OPERATIONS Three Months Ended September 30,
(Unaudited)



|                                                     | 2000       | 1999        
|---------------------------------------------------- | ---------- | ------------
|                                                     |            |             
|Income                                               |            |             
|Interest income                                      | $       76 | $         78
|Other income                                         | -          | -           
|                                                     | 76         | 78          
|                                                     |            |             
|Share of loss from Operating 
  Partnerships(Note D) | (66,768)   | (46,385)    
|                                                     |            |             
|Expenses                                             |            |             
|Professional fees                                    | 15,000     | 26,000      
|General and administrative expenses                  | 3,618      | 3,627       
|Asset management fees (note C)                       | 110,465    | 110,465     
|                                                     | 129,083    | 140,092     
|                                                     |            |             
|NET LOSS                                             | $(195,775) | $(186,399)  
|                                                     |            |             
|Net loss allocated to general partners               | $(1,958)   | $(1,864)    
|                                                     |            |             
|Net loss allocated limited partners                  | $(193,817) | $(184,535)  
|                                                     |            |             
|Net loss per unit of limited 
  partnership interest | $(7)       | $(7)        
|                                                     |            |             

The accompanying notes are an integral part of this statement

American Affordable Housing II Limited Partnership 
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)





|                                                     | 2000        | 1999       
|---------------------------------------------------- | ----------- | -----------
|                                                     |             |            
|Income                                               |             |            
|Interest income                                      | $       137 | $       129
|Other income                                         | 4,079       | 3,846      
|                                                     | 4,216       | 3,975      
|                                                     |             |            
|Share of loss from Operating 
  Partnerships(Note D) | (137,131)   | (108,452)  
|                                                     |             |            
|Expenses                                             |             |            
|Professional fees                                    | 25,578      | 27,000     
|General and administrative expenses                  | 9,405       | 10,024     
|Asset management fees (note C)                       | 205,214     | 208,642    
|                                                     | 240,197     | 245,666    
|                                                     |             |            
|NET LOSS                                             | $(373,112)  | $(350,143) 
|                                                     |             |            
|Net loss allocated to general partners               | $(3,731)    | $(3,501)   
|                                                     |             |            
|Net loss allocated limited partners                  | $(369,381)  | $(346,642) 
|                                                     |             |            
|Net loss per unit of limited 
  partnership interest | $(14)       | $(13)      
|                                                     |             |            

The accompanying notes are an integral part of this statement



American Affordable Housing II Limited PartnershipSTATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)



|                                                   | Assignees    | General
Partner | Total       
|-------------------------------------------------- | ------------ | --------------- | ------------
|                                                   |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000       | $(2,461,584) | $(257,093)      | $(2,718,677)
|                                                   |              |                 |             
|                                                   |              |                 |             
|Net loss                                           | (369,381)    | (3,731)         | (373,112)   
|                                                   |              |                 |             
|Partners capital 
 (deficit),
  September 30, 2000 | $(2,830,965) | $(260,824)      | $(3,091,789)
|                                                   |              |                 |             

The accompanying notes are an integral part of this statement

American Affordable Housing II Limited PartnershipSTATEMENTS OF CASH FLOWSSix Months Ended September 30,
(Unaudited)



|                                                            | 2000         | 1999       
|----------------------------------------------------------- | ------------ | -----------
|Cash Flows from operating activities:                       |              |            
|                                                            |              |            
|Net Loss                                                    | $  (373,112) | $ (350,143)
|Adjustments                                                 |              |            
|Cash flow from Operating
        Partnerships               | 1,281        | 1,280      
|Share of Loss from Operating
        Partnerships           | 137,131      | 108,452    
|Changes in assets and liabilities                           |              |            
|(Decrease) Increase in other 
        assets                | (2,885)      | -          
|Increase in accounts payable
        and accrued expenses   | 228,583      | 244,746    
|                                                            |              |            
|Net cash provided by (used in)
        Operating activities | (9,002)      | 4,335      
|                                                            |              |            
|INCREASE (DECREASE) IN CASH                                 | (9,002)      | 4,335      
|                                                            |              |            
|Cash and cash equivalents, beginning                        | 12,021       | 9,857      
|                                                            |              |            
|Cash and cash equivalents, ending                           | $3,019       | $14,192    

American Affordable Housing II Limited Partnership

NOTES TO FINANCIAL STATEMENTS
September 30, 2000
 (Unaudited)

NOTE A - ORGANIZATION

American Affordable Housing II Limited Partnership
("Partnership") was formed under the laws of The Commonwealth of
Massachusetts on May 13, 1987, for the purpose of acquiring, holding, and
disposing of limited partnership interests in operating partnerships
which were to acquire, develop, rehabilitate, operate and own newly
constructed, existing or rehabilitated low-income apartment complexes. 
The general partners of the Partnership are Boston Capital Associates
Limited Partnership and C&M Associates d/b/a Boston Capital Associates.

Pursuant to the Securities Act of 1933, the Partnership filed a
Form S-11 Registration Statement with the Securities and Exchange
Commission, effective September 21, 1987, which covered the offering (the
"Public Offering") of the Partnership's units of limited partner
interest, as well as the units of limited partner interest offered by
American Affordable Housing I, III, IV, and V Limited Partnerships
(together with the Partnership, the "Partnerships").  The Partnerships
registered 50,000 units of limited partner interest at $1,000 each unit
for sale to the public.  The Partnership sold 26,501 units of limited partner 
interest, representing $26,501,000 of capital contributions.

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements included herein as of September 30, 2000 and for the three and six months then ended have been prepared by the
Registrant, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission.  The Registrant's accounting and financial 
reporting policies are in conformity with generally accepted accounting 
principles and include adjustments in interim periods considered necessary for 
a fair presentation of the results of operations.  All such adjustments are of 
a normal recurring nature.  Certain information and footnote disclosures 
normally included in financial statements prepared in accordance with 
generally accepted accounting principles have been condensed or omitted 
pursuant to such rules and regulations.  It is suggested that these condensed 
financial statements be read in conjunction with the financial statements and 
the notes thereto included in the Registrant's Annual Report Statement on Form 
10-K.

The accompanying financial statements reflect the Partnership's
results of operations for an interim period and are not necessarily
indicative of the results of operations for the fiscal year ending
March 31, 2001.

American Affordable Housing II Limited Partnership
                 NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                              September 30, 2000
                                 (Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS

An annual asset management fee based on 0.5 percent of the aggregate
cost of all apartment complexes owned by the Operating Partnerships, has been 
accrued as payable to Boston Capital Asset Management Limited Partnership.  
The annual asset management fee accrued for the quarters ended September 30, 
2000 and 1999 was $110,465 for both years.

Affiliates of the General Partner have advanced $233,469 to the
Partnership to pay certain operating expenses of the Partnership, and make 
advances and/or loans to Operating Partnerships.  These and any additional 
advances will be repaid, without interest, from available cash flow or the 
proceeds of sales or refinancing of the Partnership's interests in Operating 
Partnerships.

The Partnership has also accrued certain affiliate administrative 
expenses, including but not limited to travel, printing, salaries, postage, 
and overhead allocations, totaling $16,595.

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At September 30, 2000 and 1999, the Partnership had limited partnership 
equity interests in forty nine and fifty Operating Partnerships, respectively, 
each of which owned an apartment complex.

Under the terms of the Partnership's investment in each Operating
Partnership, the Partnership was required to make capital contributions to
such Operating Partnerships.  These contributions were payable in installments 
upon each Operating Partnership achieving specified levels of construction 
and/or operations.  At September 30, 2000 and 1999, all such capital 
contributions had been paid to the Operating Partnerships.

The Partnership's fiscal year ends March 31st of each year, while all
the Operating Partnerships' fiscal years are the calendar year. Pursuant to
the provisions of each Operating Partnership Agreement, financial results for 
each of the Operating Partnerships are provided to the Partnership within 45
days after the close of each Operating Partnership's quarterly period. 
Accordingly, the current financial results available for the Operating
Partnerships are for the six months ended June 30, 2000.

American Affordable Housing II Limited Partnership

NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

The unaudited combined statements of operations of the Operating 
Partnerships for the six months ended June 30, 2000 and 1999 are as follows:



|                                                                              | 2000         | 1999        
|----------------------------------------------------------------------------- | ------------ | ------------
|                                                                              |              |             
|Revenues                                                                      |              |             
|Rental income                                                                 | $  4,828,526 | $  4,889,449
|Interest and other                                                            | 242,204      | 157,657     
|                                                                              |              |             
|                                                                              | 5,070,730    | 5,047,106   
|                                                                              |              |             
|Expenses                                                                      |              |             
|Interest expense                                                              | 1,452,258    | 1,427,509   
|Depreciation and amortization                                                 | 1,398,919    | 1,454,246   
|Operating expenses                                                            | 3,428,264    | 3,138,443   
|                                                                              | 6,279,441    | 6,020,198   
|                                                                              |              |             
|NET LOSS                                                                      | $(1,208,711) | $(973,092)  
|                                                                              |              |             
|Net loss allocation to American
  Affordable Housing II Limited
  Partnership | $(137,131)   | $(108,452)  
|                                                                              |              |             
|                                                                              |              |             
|Net loss allocated to other 
  partners                                       | $(12,087)    | $(9,731)    
|                                                                              |              |             
|Net loss suspended                                                            | $(1,059,493) | $(854,909)  







The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the partnership adjusts
its investment cost for its share of each Operating Partnership's results of
operations and for any distributions received or accrued.  However, the 
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to 
offset excess income.



American Affordable Housing II Limited Partnership
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 2000
(Unaudited)

NOTE E - TAXABLE LOSS

The Partnership's taxable loss for the year ended March 31,
2001 is expected to differ from its loss for financial reporting
purposes. This is primarily due to accounting differences in depreciation incurred by the Operating Partnerships and also differences between the equity method of accounting and IRS accounting methods.  No provision or benefit for income taxes has been
included in these financial statements since taxable income or loss passes through to, and is reportable by, the partners individually.

Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations

Liquidity

The Partnership's primary source of funds was the proceeds of its
Public Offering.  Other sources of liquidity have included (i) interest
earned on working capital reserves, and (ii) cash distributions from
operations of the Operating Partnerships in which the Partnership has
invested.  Both of these sources of liquidity are available to meet the
obligations of the Partnership.

The Partnership is currently accruing the annual asset management fee. 
Asset management fees accrued during the quarter ended September 30, 2000 were 
$110,464 and total asset management fees accrued as of September 30, 2000 were 
$4,927,683. Pursuant to the Partnership Agreement, such liabilities will be 
deferred until the Partnership receives sales or refinancing proceeds from 
Operating Partnerships, which will be used to satisfy such liabilities.

The Partnership has recognized other income as of September 30, 2000 in the 
amount of $4,079.  The total represents distributions from Operating 
Partnerships which the Partnership normally would record as a decrease in the 
Investment in Operating Partnerships.  Due to the equity method of accounting, 
the Partnership has recorded these distributions as other income.

The Partnership has recorded $5,177,748 as payable to affiliates.  This 
represents advances to pay certain third party operating expenses of the 
Partnership, advances and/or loans to Operating Partnerships, accrued 
partnership management fees, and accrued overhead allocations.  These and any 
future advances or accruals will be paid, without interest, from available 
cash flow, reporting fees, or the proceeds of sales or refinancing of the 
Partnership's  interest in Operating Partnerships.

Cash flow and reporting fees will be added to the Partnership's working 
capital and will be available to meet future third party obligations of the 
Partnership.  The Partnership is currently pursuing, and will continue to 
aggressively pursue, available cash flow and reporting fees and anticipates 
that the amount collected will be sufficient to cover future third party 
operating expenses.

Capital Resources

The Partnership received $26,501,000 in subscriptions for Units (at
$1,000 per Unit) during the period February 2, 1988 to September 21, 1988
pursuant to the Public Offering, resulting in net proceeds available for
investment in Operating Partnerships (after payment of acquisition fees
and expenses and funding of a reserve) of $18,550,700.  The Partnership had 
committed to investments requiring cash payments of $18,613,764, all of which
had been paid at September 30, 2000. At September 30, 2000 the Partnership 
held working capital of $3,019.

Results of Operations

As of September 30, 2000 and 1999 the Partnership held limited partnership 
interests in 49 and 50 Operating Partnerships, respectively. In each instance 
the Apartment Complex owned by the applicable Operating Partnership is 
eligible for the Federal Housing Tax Credit.  Occupancy of a unit in each 
Apartment Complex which initially complied with the Minimum Set-Aside Test 
(i.e., occupancy by tenants with incomes equal to no more than a certain 
percentage of area median income) and the Rent Restriction Test (i.e., gross 
rent charged tenants does not exceed 30% of the applicable income standards) 
is referred to hereinafter as "Qualified Occupancy."  Each of the Operating 
Partnerships and each of the respective Apartment Complexes are described more 
fully in the Prospectus or applicable report on Form 8-K.  The General Partner 
believes that there is adequate casualty insurance on the properties.

As of September 30, 2000 and 1999 the Qualified Occupancy of the Operating 
Partnership's was 99.8% and 99.8%, respectively.  The Partnership had a total 
of 49 properties at September 30, 2000 of which 46 were at 100% Qualified 
Occupancy.

The Partnership had invested in a total of 49 and 50 Operating Partnerships as 
of September 30, 2000 and 1999, respectively.  During the quarters ended 
September 30, 2000 and 1999, the Partnership received $5,389 and $1,636, 
respectively, in distributions of cash flow and $10,818 and $2,000, 
respectively, of reporting fees from the Operating Partnerships. Of the total 
cash flow received in the quarters ended September 30, 2000 and 1999, $4,079 
and $1,636, respectively, was recorded as miscellaneous income instead of as a 
decrease in Investments in Operating Limited Partnerships, due to the equity 
method of accounting.  No other significant sources of income are anticipated.

The Partnership incurred an annual asset management fee to Boston
Capital Asset Management Limited Partnership in an amount equal to 0.5% of the 
aggregate cost of the apartment complexes owned by the Operating Partnerships, 
less the amount of certain partnership management and reporting fees paid by 
the Operating Partnerships.  The annual asset management fee incurred, net of 
reporting fees received, during the quarters ended September 30, 2000 and 1999 
was $110,465.

Historically, the financial statements of Rouse Stokes Rowe Housing 
Associates, L.P. have been prepared assuming that the Operating Partnership 
will continue as a going concern.  Despite high occupancy, the property 
suffers from cash flow deficits related to excessive operating expenses.  As a 
result, both of the Operating P

Occupancy at Lovington Housing Associates, L.P. (Southview Place Apartments) experienced a downturn during the past four quarters. The local economy and tenant population were adversely impacted by the decline of local oil production. The management
company indicated that  occupancy improvements are contingent on the recovery of the local economy. Western States Housing was unsuccessful in obtaining financing for deferred maintenance, particularly interior and exterior painting, however funds for
these items are being  funded through the replacement reserve account and operating cash as it becomes available. This year, three of four buildings exteriors have been painted, with the fourth schedule for late fall 2000.  Although the replacement
reserve account is under funded, the property remains in compliance with a workout plan to cure the deficit.

East Ridge Associates Limited Partnership (East Ridge Estate) received a copy of a Notice of Acceleration and Demand for Payment, filed by the United States Department of Agriculture (USDA), in May 1999. The General
Partner of the Operating Partnership filed an appeal with the National Appeals in November 1999 and the decision to accelerate the mortgage was upheld by the USDA National Appeals Division on January 31, 2000. No actions on the acceleration will be made
until a decision has been reached on a motion made by Maine Rural Development to overturn the decision to change the management company from R & K Oxford to Stanford Mgt, LLC, an affiliated company. The Operating General Partner intends to file a
workout plan with Maine Rural Development pending a decision on the management company.

A decision on the management agent was not reached by the end of the third quarter. The partnership continues  to suffer from ongoing operating deficits, a delinquent mortgage, under funded reserves, and low occupancy, Additionally, the physical
condition of the property has suffered due to deferred maintenance at the property.  The exterior of the building is in poor condition and requires capital improvements, the unit interiors are in excellent condition, the common areas are in fair
condition, and the landscaping needs attention. Maine Rural Development has allowed the property to admit non-elderly tenants that are income qualified due to a change in the demographics of the marketplace of the Southwest Harbor. The third quarter
occupancy was 99% as a result of Maine Rural Development issuing waivers at East Ridge on a case-by-case basis.

The Operating Partnership's average physical occupancy for 1999 was 78% and for the first nine months of 2000 was 90%. The historically low occupancy at the project resulted from the expiration of a rental assistance contract with Maine State Housing
Authority. The Investment General Partner will continue to monitor the negotiations between the Operating General Partner and Maine Rural Development.





PART II - OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

(a)         Exhibits

(2)         None

(4)(a)      Form of Amended and Restated Certificate and Agreement
                 of Limited Partnership and form of Subscription
                 Agreement for the Partnership

(4)(b)(i)   Certificate and Agreement of Limited Partnership of
                 the Partnership

(4)(b)(ii)  Amended Certificate and Agreement of Limited
                 Partnership of the Partnership

(4)(c)      Form of Certificate of Limited Partnership Interest in
                 the Partnership

(11)        None

(15)        None

(18)        None

(19)        None

(20)        None

(23)        None

(24)        None

(25)        None

(28)        None

(b)         Reports on Form 8-K

There were no reports on Form 8-K filed during the period
                 covered by this report.











SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.



American Affordable Housing II 
                                Limited Partnership



By:  Boston Capital Associates Limited
                                Partnership



By:  C&M Associates, d/b/a
                                Boston Capital Associates,



Date: November 20, 2000    By: 		/s/John P. Manning
                                   ---------------------------

John P. Manning, Partner