FORM 10-Q
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                   Quarterly Report Under Section 13 or 15(d)
                     of the Securities exchange Act of 1934

                  For the Quarterly Period Ended March 31, 1998

                         Commission File Number 0-16815

                        NHP RETIREMENT HOUSING PARTNERS I
                               LIMITED PARTNERSHIP
                        (A Delaware Limited Partnership)
             (Exact name of registrant as specified in its charter)


                     DELAWARE                                 52-1453513
(State of other jurisdiction of incorporation              (I.R.S. Employer
                 or organization)                         Identification No.


                         14160 DALLAS PARKWAY, SUITE 300
                                DALLAS, TX 75240
                    (Address of principal executive offices)
                                   (Zip Code)


                                 (214) 770-5600
              (Registrant's telephone number, including area code)

                                 NOT APPLICABLE
              (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  preceding  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 
     -----      -----


<PAGE>

PART I - FINANCIAL INFORMATION
ITEM 1 - FINANCIAL STATEMENTS
<TABLE>
<CAPTION>

              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A Limited Partnership
                        Statements of Financial Position

<S>                                                                   <C>                        <C>                      
                                                                       March 31, 1998             December 31, 1997
                                                                       --------------             -----------------

                                     ASSETS
                                     ------

Cash and cash equivalents                                             $       5,037,402          $        4,495,733
Other receivables                                                                21,481                      31,892
Pension notes issuance costs                                                    946,144                   1,009,842
Organization and offering costs                                                 202,882                     215,326
Prepaid expenses                                                                309,338                     300,654
Rental property:
     Land                                                                     6,820,468                   6,820,468
     Building, net of accumulated depreciation of
       15,890,210 in 1998 and $15,456,154 in 1997                            42,380,347                  42,670,005
Other assets                                                                     42,111                      41,920
                                                                      -----------------          ------------------

Total assets                                                          $      55,760,173          $       55,585,840
                                                                      =================          ==================


                        LIABILITIES AND PARTNERS' DEFICIT
                        ---------------------------------

Liabilities:
     Accounts payable                                                 $         362,633          $          320,796
     Interest payable                                                        24,560,656                  23,730,407
     Pension notes                                                           42,672,000                  42,672,000
     Other liabilities                                                          905,609                     882,625
                                                                      -----------------          ------------------

                                                                             68,500,898                  67,605,828
                                                                      -----------------          ------------------
Partners' deficit:
     General Partner-NHP/RHGP-I Limited
        Partnership                                                          (1,626,140)                 (1,596,670)
     Assignor Limited Partner-NHP RHP-I
        Assignor Corporation-42,691 investment
        units outstanding                                                   (11,114,585)                (10,423,318)
                                                                      -----------------          ------------------

Total partners' deficit                                                     (12,740,725)                (12,019,988)
                                                                      -----------------          ------------------

Total liabilities and partners' deficit                               $      55,760,173          $       55,585,840
                                                                      =================          ==================

</TABLE>

                       See notes to financial statements
                                       1
<PAGE>


<TABLE>
<CAPTION>

              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A Limited Partnership
                             Statement of Operations
                    For the Three Months Ended March 31, 1998
<S>                                                                      <C>                     <C>  

                                                                                Three months ended March 31,
                                                                                 1998                    1997
                                                                                 ----                    ----
REVENUE:
     Rental income                                                       $       4,024,049       $       3,774,565
     Interest income                                                                28,289                  24,420
     Other income                                                                   62,697                  41,772
                                                                         -----------------       -----------------

                                                                                 4,115,035               3,840,757
                                                                         -----------------       -----------------

COSTS AND EXPENSES:
     Salaries, related benefits and overhead reimbursements                      1,007,692               1,003,343
     Management fees, dietary fees and other services                              378,688                 373,535
     Administrative and marketing                                                  147,033                 128,973
     Utilities                                                                     255,854                 256,345
     Maintenance                                                                   115,573                 115,405
     Resident services, other than salaries                                         60,165                  71,389
     Food services, other than salaries                                            393,926                 385,682
     Depreciation                                                                  434,057                 415,548
     Taxes and insurance                                                           296,424                 279,797
                                                                         -----------------       -----------------

                                                                                 3,089,412               3,030,017
                                                                         -----------------       -----------------

INCOME FROM RENTAL OPERATIONS                                                    1,025,623                 810,740
                                                                         -----------------       -----------------

COSTS AND EXPENSES:
     Interest expense - pension notes                                            1,582,983               1,509,068
     Amortization of pension notes issuance costs                                   63,698                  63,698
     Amortization of organization and offering costs                                12,444                  12,444
     Other expenses                                                                 71,873                 127,480
                                                                         -----------------       -----------------

                                                                                 1,730,998               1,712,690
                                                                         -----------------       -----------------

NET (LOSS)                                                               $        (705,375)      $        (901,950)
                                                                         -----------------       =================

NET (LOSS) PER ASSIGNEE INTEREST  

                                                                         $             (17)      $             (21)
                                                                         =================       =================

</TABLE>

                       See notes to financial statements
                                       2
<PAGE>

<TABLE>
<CAPTION>

              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A Limited Partnership
                         Statement of Partners' Deficit
                    For the Three Months Ended March 31, 1998


<S>                                                <C>                          <C>                  <C> 

                                                    GENERAL PARTNER
                                                  CAPITAL REALTY GROUP           ASSIGNOR LIMITED
                                                  SENIOR HOUSING, INC.               PARTNER               TOTAL
                                                  --------------------           ----------------          -----
Partners' deficit
   at December 31, 1997                            $       (1,596,670)          $    (10,423,318)    $    (12,019,988)

Distributions                                                 (15,362)                          0             (15,362)

Net Loss - Three months
   ended March 31, 1998                                       (14,108)                  (691,267)            (705,375)
                                                   ------------------           ----------------     ----------------
Partners' deficit
   at March 31, 1998                               $       (1,626,140)          $    (11,114,585)    $    (12,740,725)
                                                   ==================           ================     ================
Percentage interest
   at March 31, 1998                                        2%                          98%                   100%
                                                            ==                          ===                   ====

</TABLE>

                       See notes to financial statements
                                       3
<PAGE>

<TABLE>
<CAPTION>

              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A Limited Partnership
                            Statements of Cash Flows

<S>                                                                        <C>                       <C> 

                                                                                   Three months ended March 31,
                                                                                 1998                     1997
                                                                                 ----                     ----

Cash flows from operating activities:
     Rent collections                                                      $      4,034,460          $      3,768,004
     Interest received                                                               28,289                    24,420
     Other income                                                                    62,697                    41,772
     Salary and related benefits                                                 (1,013,955)               (1,005,993)
     Management fees, dietary fees
       and other services                                                          (381,311)                 (374,368)
     Other operating expenses paid                                               (1,276,016)               (1,309,200)
     Interest paid                                                                 (752,734)                 (752,733)
                                                                           ----------------          ----------------

     Net cash provided by
       operating activities                                                         701,430                   391,902
                                                                           ----------------          ----------------

Cash flows from investing activities:
     Capital Expenditures                                                          (144,399)                  (72,640)
                                                                           ----------------          ----------------

     Net cash used in investing activities                                         (144,399)                  (72,640)
                                                                           ----------------          ----------------

Cash flows from financing activities:
     Distributions                                                                  (15,362)                  (15,362)
                                                                           ----------------          ----------------

     Net cash used in financing activities                                          (15,362)                  (15,362)
                                                                           ----------------          ----------------

Net increase in cash and
     cash equivalents                                                               541,669                   303,900

Cash and cash equivalents
     at beginning of period                                                       4,495,733                 4,017,181
                                                                           ----------------          ----------------

Cash and cash equivalents
     at end of period                                                      $      5,037,402          $      4,321,081
                                                                           ================          ================

</TABLE>

                       See notes to financial statements
                                       4
<PAGE>

<TABLE>
<CAPTION>

              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A Limited Partnership
                            Statements of Cash Flows

                                   (Continued)


<S>                                                                       <C>                          <C>   

                                                                                   Three months Ended March 31,
                                                                                1998                       1997
                                                                                ----                       ----

RECONCILIATION OF NET LOSS TO NET CASH
     PROVIDED BY OPERATING ACTIVITIES:

Net loss                                                                  $       (705,375)            $       (901,950)

Adjustments to reconcile net loss to net cash used in operating activities:
       Depreciation                                                                434,057                      415,548
       Amortization of organization
         and offering costs                                                         12,444                       12,444
       Amortization of pension notes
         issuance costs                                                             63,698                       63,698

Changes in operating assets and liabilities:
       Other assets and receivables                                                 10,220                       (5,166)
       Prepaid expenses                                                             (8,684)                      (4,853)
       Accounts payable                                                             41,837                       32,285
       Interest payable                                                            830,249                      756,335
       Other liabilities                                                            22,984                       23,561
                                                                          ----------------             ----------------

           Total adjustments                                                     1,406,805                    1,293,852
                                                                          ----------------             ----------------

Net cash provided by
  operating activities                                                    $        701,430             $        391,902
                                                                          ================             ================

</TABLE>

                       See notes to financial statements
                                       5
<PAGE>


                                                         8
              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A Limited Partnership
                          Notes to Financial Statements


(1)    ACCOUNTING POLICIES

       Nature of Business

       NHP Retirement Housing Partners I Limited Partnership (the "Partnership")
       is a  limited  partnership  organized  under  the  laws of the  State  of
       Delaware on March 10, 1986. The Partnership was formed for the purpose of
       raising  capital by issuing both Pension  Notes  ("Notes") to  tax-exempt
       investors  and selling  additional  partnership  interests in the form of
       Assignee  Interests  ("Interests")  to  taxable  individuals.   Interests
       represent  assignments  of  the  limited  partnership  interests  of  the
       Partnership  issued to the Assignor Limited  Partner,  NHP RHP-I Assignor
       Corporation.  The proceeds from the sale of the Notes and Interests  have
       been  invested  in  residential  rental  properties  for  retirement  age
       occupants.

       Basis of Presentation

       The  accompanying  unaudited  interim  financial  statements  reflect all
       adjustments which are, in the opinion of management, necessary to present
       a fair statement of the financial condition and results of operations for
       the interim periods presented.

       While the General  Partner  believes that the  disclosures  presented are
       adequate to make the  information  not  misleading,  it is suggested that
       these  financial  statements  be read in  conjunction  with the financial
       statements  and the notes  included in the  Partnership's  Annual Reports
       filed in Forms 10-K for the year ended December 31, 1997.


(2)    TRANSACTIONS  WITH THE  GENERAL PARTNER  AND AFFILIATES  OF  THE  GENERAL
       PARTNER

       Until January 23, 1995, the sole general  partner of the  Partnership was
       NHP/RHGP-1  Limited  Partnership  (NHP/RHGP-1).  On  December  19,  1991,
       NHP/RHGP-1  executed  an amended and  restated  purchase  agreement  with
       Capital  Realty  Group  Properties,  Inc.  (CRGP) for the transfer of the
       General Partner's interest in the Partnership, subject to the approval of
       holders of Interests ("Assignee  Holders.") CRGP's rights and obligations
       under the purchase agreement were subsequently assigned to Capital Realty
       Group Senior Housing,  Inc. (CRGSH).  Pursuant to a Consent  Solicitation
       dated  October 25, 1994,  Assignee  Holders  holding more than 64% of the
       equity  interests in the  Partnership  approved the election of CRGSH, as
       the replacement general partner of the Partnership. Effective January 23,
       1995,  CRGSH has become the new sole general  partner of the  Partnership
       and NHP/RHGP-I has withdrawn as general partner.

       Personnel working at the Property sites and certain home office personnel
       who perform  services for the Partnership are employees of Capital Senior
       Living, Inc. (CSL), an affiliate of CRGSH. The Partnership reimburses CSL
       for the salaries,  related benefits, and overhead  reimbursements of such
       personnel as reflected in the accompanying financial statements.  Salary,
       related benefits and overhead  reimbursements  reimbursed and expensed by
       the  Partnership to CSL for the first fiscal quarter ended March 31, 1998

                                       6

<PAGE>

       and 1997, were $1,007,692 and $1,003,343, respectively.  Management fees,
       dietary  fees  and  other   services   reimbursed  and  expensed  by  the
       Partnership  to CSL for the first fiscal quarter ended March 31, 1998 and
       1997, were $378,688 and $373,535, respectively.

       Distributions  of $15,362  were made  to the  General Partner  during the
       three months ended March 31, 1998.

(3)    VALUATION OF RENTAL PROPERTY

       Generally  accepted  accounting  principles  require that the Partnership
       evaluate  whether it is probable that the estimated  undiscounted  future
       cash flows of its properties,  taken individually,  will be less than the
       respective net book value of the properties.  If such a shortfall  exists
       and is material, then a write-down is warranted. The Partnership performs
       such  evaluations  on an on-going  basis.  During the three  months ended
       March 31, 1998, based on the Partnership's  evaluation of each respective
       property,  the Partnership did not believe that any additional write-down
       was warranted.


ITEM 2.   MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL
          CONDITION AND RESULTS OF OPERATIONS


LIQUIDITY AND CAPITAL RESOURCES

The following  schedule  summarizes the occupancy  levels at the four properties
wholly owned by the Partnership and at Amberleigh in which the Partnership has a
99.9% partnership interest.
<TABLE>
<CAPTION>
<S>                                                                  <C>                   <C>                 <C> 

                                                                  Available            March 31            March 31
                                                                    Units                1998                1997
                                                                    -----                ----                ----

The Amberleigh                                                       271                   95%                 97%
The Atrium at Carmichael                                             153                   97%                 97%
Crosswood Oaks                                                       122                   93%                 88%
Heatherwood                                                          160                   96%                 79%
Veranda Club                                                         189                   95%                 96%

</TABLE>

Rent collections for the three month period increased to $4,034,460 in 1998 from
$3,768,004 in 1997, or 7.1%,  primarily from rental rate increases and increased
occupancies.  Salaries,  management  fees  and  other  operating  expenses  paid
slightly  decreased,  from  $2,689,561  in 1997 to  $2,671,282  in 1998 or 0.7%,
primarily from decreased operating expenses.

Cash generated from rental  operations  prior to the payment of interest expense
was  sufficient  to pay all of the  interest  on the  Pension  Notes,  which was
$752,734 for the three month period ended March 31, 1998. Net cash provided from
operations, after the payment of interest expense, during the three months ended
March 31, 1998 and 1997 was $701,430 and $391,902, respectively. Interest on the
Pension Notes is accrued at a 13% rate, which totaled  $1,582,983 and $1,509,068
for the three  months ended March 31, 1998 and 1997,  respectively,  but is paid
based on a 7% pay rate. The remaining 6% unpaid portion  continues to be accrued
and  is  due  at  maturity.  Total  accrued  and  unpaid  interest  amounted  to
$24,560,656   and   $23,730,407  at  March  31,  1998  and  December  31,  1997,
respectively.

                                       7

<PAGE>

Capital expenditures increased $71,759 from $72,640 in 1997 to $144,399 in 1998.
Capital  improvement  programs  implemented at several of the properties  during
1995 continued during 1996, 1997 and 1998.

Cash and cash  equivalents  at March 31, 1998 and December 31, 1997  amounted to
$5,037,402 and $4,495,733, respectively.

If operations do not improve  significantly  in the long-term,  future funds may
not be available to meet operating requirements,  including the ultimate payment
of principal  and  deferred  interest on the Pension  Notes.  This cash need has
caused the General Partner to determine that it is not  financially  appropriate
to make distributions to Assignee Holders.  The General Partner anticipates that
distributions   will   continue  to  be  suspended   until   operating   results
significantly improve.

Although cash flow from  operations  improved in 1997 and 1998,  cash  generated
from  operations over the past several years prior to 1994 had not been adequate
to meet the  Partnership's  minimum  interest payment  requirements.  The annual
shortfall was approximately $59,000 during 1993, and averaged approximately $1.5
million  annually in the five-year  period prior to 1993. The shortfall has been
funded by Partnership's  cash reserves,  which  principally  resulted from funds
remaining from the initial offering of Partnership  Interests and Pension Notes,
after the  acquisition of the  Partnership's  properties.  If interest  payments
continue to be deferred at the current rate of 6%, the total  accrual for unpaid
interest and principal  will  approximate  $81 million at December 31, 2001, the
maturity  date of the Pension  Notes,  which is far in excess of projected  cash
reserves.  Accordingly,  there will need to be very significant  improvements in
cash flows from operations  and/or  increases in the disposition and refinancing
values of the Properties to fund both the accrued interest and the face value of
the Pension Notes upon their maturity.  Except as indicated below,  Management's
general  plans are to continue  to manage the  Properties  prudently  to achieve
positive cash flows from operations after interest payments.

The General  Partner is  currently  evaluating  various  opportunities  that may
include  the  sale of a  substantial  amount  of the  Partnership's  properties.
Interest  accruals are increasing at a rate greater than the appreciation of the
assets on a yearly  basis.  The sale of a substantial  amount of the  properties
would allow the  Partnership to pay down part of the debt,  which would have the
effect of lowering these accruals.

RESULTS OF OPERATIONS
---------------------

The  Partnership's  net loss for the three months ended March 31, 1998  includes
rental operations from each of the Partnership's  properties.  The net loss also
includes   depreciation,   amortization   of  Pension  Notes   issuance   costs,
amortization  of  organization  and  offering  costs and  accrued  Pension  Note
interest expense which are noncash in nature.

The  Partnership's  net loss  decreased  from $901,950 to $705,375 for the three
month  periods  ending  March  31,  1997 and  1998,  respectively.  Net loss per
Interest decreased from $21 to $17 for the 42,691 Interests,  respectively. This
decreased loss was principally due to increased  rental income and  occupancies.
Rental income  increased to $4,024,049 for the three months ended March 31, 1998
from $3,774,565 for the same period in 1997, or approximately 6.6%, primarily as
a result of rental rate increases.  Rental expenses increased to $3,089,412 from
$3,030,017,  or 2.0% for the three month periods ending March 31, 1998 and 1997,
respectively.   Increased   rental   expense  was  primarily  due  to  increased
administrative and marketing  expenses,  taxes and insurance,  and depreciation.
Pension Note interest  expense  increased from  $1,509,068 to $1,582,983 for the
three month periods ending March 31, 1997 and 1998 respectively.  Other expenses

                                       8

<PAGE>

relating to  Partnership  administration  decreased from $127,480 to $71,873 for
the three month periods ending March 31,1997 and 1998, respectively.

As discussed previously,  the Partnership performs an on-going evaluation of the
individual  carrying  value  of  each of the  rental  properties.  Based  on the
Partnership's  evaluation  of these  carrying  values at March 31, 1998,  it was
determined that no additional  write-downs were warranted.  The Partnership will
continue to evaluate the properties in the future,  and  additional  write-downs
may be necessary.

PART II
-------

All items not applicable.
-------------------------

                                       9
<PAGE>


SIGNATURES
----------

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this Report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                          NHP Retirement Housing Partners I Limited Partnership


                          by:      Capital Realty Group Senior Housing, Inc.
                                   General Partner



                                    By: /s/ Keith Johannessen
                                        ----------------------------------------
                                        Keith Johannessen
                                        President


                                    Date:    May 13, 1998