FORM 10-QSB--QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                        QUARTERLY OR TRANSITIONAL REPORT

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                  FORM 10-QSB

(Mark One)
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934


                 For the quarterly period ended March 31, 1998


[ ]  TRANSITION REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

               For the transition period from.........to.........

                         Commission file number 0-11934



                         CENTURY PROPERTIES FUND XVIII
       (Exact name of small business issuer as specified in its charter)



         California                                            94-2834149
(State or other jurisdiction of                             (I.R.S. Employer
incorporation or organization)                             Identification No.)

                          One Insignia Financial Plaza
                        Greenville, South Carolina 29602
                    (Address of principal executive offices)

                                 (864) 239-1000
                          (Issuer's telephone number)


Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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_____


                         PART I - FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS



a)

                         CENTURY PROPERTIES FUND XVIII
                           CONSOLIDATED BALANCE SHEET
                                  (Unaudited)
                        (in thousands, except unit data)
                                 March 31, 1998



Assets
 Cash and cash equivalents                                        $  1,962
 Receivables and deposits                                              150
 Restricted escrows                                                     58
 Other assets                                                          245
 Investment properties:
     Land                                          $  7,296
     Buildings and related personal property         19,672
                                                     26,968
     Less accumulated depreciation                   (9,948)        17,020
                                                                  $ 19,435

Liabilities and Partners' Capital
Liabilities
  Accounts payable                                                $    107
  Other liabilities                                                    159
  Accrued taxes                                                        101
  Tenant security deposit liabilities                                   76
  Mortgage notes payable                                            18,504

Partners' (Deficit) Capital
  General partner                                  $ (6,349)
  Limited partners (75,000 units issued
     and outstanding)                                 6,837            488
                                                                  $ 19,435


          See Accompanying Notes to Consolidated Financial Statements

b)
                         CENTURY PROPERTIES FUND XVIII
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (Unaudited)
                        (in thousands, except unit data)



                                                       Three Months Ended
                                                            March 31,
                                                       1998         1997
Revenues:
  Rental income                                     $   1,147    $   1,125
  Other income                                             71           69
    Total revenues                                      1,218        1,194

Expenses:
  Operating                                               384          396
  General and administrative                               59           37
  Depreciation                                            171          170
  Interest                                                368          342
  Property tax                                            102           99
    Total expenses                                      1,084        1,044

      Net income                                    $     134    $     150

Net income allocated to general partner (9.9%)      $      13    $      15
Net income allocated to limited partners (90.1%)          121          135

      Net income                                    $     134    $     150

Net income per limited partnership unit             $    1.61    $    1.80


          See Accompanying Notes to Consolidated Financial Statements

c)
                         CENTURY PROPERTIES FUND XVIII
       CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' (DEFICIT) CAPITAL
                                  (Unaudited)
                        (in thousands, except unit data)

<TABLE>
<CAPTION>
                                   Limited
                                 Partnership    General       Limited
                                    Units       Partner       Partners         Total
<S>                               <C>       <C>            <C>            <C>
Original capital contributions     75,000    $      --      $   75,000     $   75,000

Partners' (deficit) capital
 at December 31, 1997              75,000    $  (6,362)     $    6,716     $      354

Net income for the three
 months ended March 31, 1998           --           13             121            134

Partners' (deficit) capital
 at March 31, 1998                 75,000    $  (6,349)     $    6,837     $      488
<FN>
          See Accompanying Notes to Consolidated Financial Statements
</FN>
</TABLE>

d)
                         CENTURY PROPERTIES FUND XVIII
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)
                                 (in thousands)
<TABLE>
<CAPTION>

                                                              Three Months Ended
                                                                   March 31,
                                                                1998         1997
<S>                                                         <C>          <C>
Cash flows from operating activities:
 Net income                                                  $    134     $    150
 Adjustments to reconcile net income to net
   cash provided by operating activities:
   Depreciation                                                   171          170
   Amortization of loan costs                                      10           11
   Change in accounts:
      Receivables and deposits                                    (46)         201
      Other assets                                                 11            1
      Accounts payable                                             45          (35)
      Other liabilities                                            (8)         (23)
      Accrued taxes                                              (194)        (195)
      Tenant security deposit liabilities                          (4)          (4)

         Net cash provided by operating activities                119          276

Cash flows from investing activities:
  Property improvements and replacements                         (109)         (33)
  Net (deposits to) receipts from restricted escrows              (27)          68

         Net cash (used in) provided by investing
           activities                                            (136)          35

Cash flows used in financing activities:
  Payments on mortgage notes payable                              (46)        (103)

Net (decrease) increase in cash and cash equivalents              (63)         208

Cash and cash equivalents at beginning of period                2,025        1,259

Cash and cash equivalents at end of period                   $  1,962     $  1,467

Supplemental disclosure of cash flow information:
  Cash paid for interest                                     $    359     $    331

<FN>
          See Accompanying Notes to Consolidated Financial Statements
</FN>
</TABLE>

e)
                         CENTURY PROPERTIES FUND XVIII
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  (Unaudited)



NOTE A - BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements of Century
Properties Fund XVIII (the "Partnership") have been prepared in accordance with
generally accepted accounting principles for interim financial information and
with the instructions to Form 10-QSB and Item 310(b) of Regulation S-B.
Accordingly, they do not include all of the information and footnotes required
by generally accepted accounting principles for complete financial statements.
The Partnership's general partner is Fox Partners, an affiliate of Insignia
Financial Group, Inc. ("Insignia").  The general partners of Fox Partners are
Fox Capital Management Corporation (the "Managing General Partner" or "FCMC"),
Fox Realty Investors ("FRI"), and Fox Partners 82.  In the opinion of the
Managing General Partner all adjustments (consisting of normal recurring
accruals) considered necessary for a fair presentation have been included.
Operating results for the three month period ended March 31, 1998, are not
necessarily indicative of the results that may be expected for the fiscal year
ending December 31, 1998.  For further information, refer to the consolidated
financial statements and footnotes thereto included in the Partnership's annual
report on Form 10-KSB for the year ended December 31, 1997.

Certain reclassifications have been made to the 1997 information to conform to
the 1998 presentation.

NOTE B - TRANSACTIONS WITH AFFILIATED PARTIES

The Partnership has no employees and is dependent on the Managing General
Partner and its affiliates for the management and administration of all
partnership activities.  The Managing General Partner is a wholly-owned
subsidiary of Insignia Properties Trust ("IPT"), an affiliate of Insignia.  The
Partnership Agreement provides for certain payments to affiliates for services
and as reimbursement of certain expenses incurred by affiliates on behalf of the
Partnership.

On March 17, 1998, Insignia entered into an agreement to merge its national
residential property management operations, and its controlling interest in IPT
with Apartment Investment and Management Company ("AIMCO"), a publicly traded
real estate investment trust.  The closing, which is anticipated to happen in
the third quarter of 1998, is subject to customary conditions, including
government approvals and the approval of Insignia's shareholders.  If the
closing occurs, AIMCO will then control the Managing General Partner of the
Partnership.

The following transactions with affiliates of Insignia were charged to expense
in 1998 and 1997:



                                                            Three Months Ended
                                                                 March 31,
                                                              (in thousands)
                                                            1998           1997
Property management fees (included in operating
  expenses)                                               $   60          $   60
Reimbursement for services of affiliates (1)
  (included in operating, general and administrative
  expenses and investment properties)                         35              23

(1) includes approximately $1,000 in reimbursements for construction oversight 
    costs in 1998.

For the period from January 1, 1997, to August 31, 1997, the Partnership insured
its properties under a master policy through an agency affiliated with the
Managing General Partner with an insurer unaffiliated with the Managing General
Partner.  An affiliate of the Managing General Partner acquired, in the
acquisition of a business, certain financial obligations from an insurance
agency which was later acquired by the agent who placed the master policy.  The
agent assumed the financial obligations to the affiliate of the Managing General
Partner which receives payments on these obligations from the agent.  The amount
of the Partnership's insurance premiums that accrued to the benefit of the
affiliate of the Managing General Partner by virtue of the agent's obligations
was not significant.

On December 17, 1997, an Insignia affiliate (the "Purchaser") commenced tender
offers for limited partnership interests in the Partnership.  The Purchaser
offered to purchase up to 30,000 of the outstanding units of limited partnership
interest ("units") in the Partnership, at $70.00 per Unit, net to the seller in
cash, upon the terms and subject to the conditions set forth in the Offer to
Purchase dated December 17, 1997 (the "Offer to Purchase") and the related
Assignment of Partnership Interest attached as Exhibits (a)(1) and (a)(2),
respectively, to the Tender Offer Statement on Schedule 14D-1 originally filed
with the Securities and Exchange Commission on December 17, 1997.  Because of
the existing and potential future conflicts of interest (described in the
Partnership's Statements on Schedule 14D-9 filed with the Securities and
Exchange Commission), neither the Partnership nor the Managing General Partner
expressed any opinion as to the Offer to Purchase and made no recommendation as
to whether unit holders should tender their units in response to the Offer to
Purchase. In addition, because of these conflicts of interest, including as a
result of the Purchaser's affiliation with various Insignia affiliates that
provide property management services to the Partnership's properties, the manner
in which the Purchaser votes its limited partner interest in the Partnership may
not always be consistent with the best interests of the other limited partners.
On January 30, 1998, the Purchaser acquired an additional 5,260 units pursuant
to its December 17, 1997, tender offer.


ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The Partnership's investment properties consist of two apartment complexes.  The
following table sets forth the average occupancy of the properties for the three
months ended March 31, 1998 and 1997:


                                                       Average
                                                      Occupancy
Property                                          1998         1997

Oak Run Apartments
  Dallas, Texas                                    94%         96%

Overlook Point Apartments
  Salt Lake City, Utah                             93%         95%

The Partnership's net income for the three months ended March 31, 1998, was
approximately $134,000 versus approximately $150,000 for the same period in
1997. The decrease is attributable to an increase in interest and general and
administrative expenses, partially offset by an increase in rental income.
Rental income increased, despite a slight drop in occupancy at both investment
properties, due to an increase in rental rates. General and administrative
expenses increased due to the increase in expense reimbursements for services of
affiliates. Interest expense increased for the three months ended March 31,
1998, as compared to the three months ended March 31, 1997, due to the
refinancing of the mortgage indebtedness encumbering Oak Run Apartments, as
discussed below.

Included in operating expenses for the three months ended March 31, 1998, is
approximately $10,000 of major repairs and maintenance mainly comprised of
parking lot repairs.  Included in operating expenses for the three months ended
March 31, 1997, was approximately $6,000 of major repairs and maintenance mainly
comprised of swimming pool repairs, golf carts and window coverings.

As part of the ongoing business plan of the Partnership, the Managing General
Partner monitors the rental market environment of its investment properties to
assess the feasibility of increasing rents, maintaining or increasing occupancy
levels and protecting the Partnership from increases in expenses.  As part of
this plan, the Managing General Partner attempts to protect the Partnership from
the burden of inflation-related increases in expenses by increasing rents and
maintaining a high overall occupancy level.  However, due to changing market
conditions, which can result in the use of rental concessions and rental
reductions to offset softening market conditions, there is no guarantee that the
Managing General Partner will be able to sustain such a plan.

At March 31, 1998, the Partnership had cash and cash equivalents of
approximately $1,962,000 as compared to approximately $1,467,000 at March 31,
1997.  Cash and cash equivalents decreased approximately $63,000 for the three
month period ended March 31, 1998.  Net cash provided by operating activities
decreased for the three months ended March 31, 1998, as compared to the three
months ended March 31, 1997, due to the decrease in net income discussed above
and an increase in receivables and deposits. Receivables and deposits increased
due to a decrease in funds escrowed for property taxes at the end of 1997.
Partially offsetting the decrease in cash provided by operating activities is an
increase in accounts payable as a result of the timing of the payment of
invoices.  Net cash used in investing activities for the three months ended
March 31, 1998, primarily results from the construction of a tennis court at
Overlook Point Apartments and an ongoing roof replacement project at Oak Run
Apartments.  The decrease in payments on mortgage notes payable for the three
months ended March 31, 1998, as compared to the same period in 1997, is due to
the refinancing of the indebtedness at Oak Run Apartments.  During 1997,
principal payments were also being made on the participating note to the former
lender, as discussed below.

In September 1997, the Partnership refinanced the mortgage indebtedness
encumbering Oak Run Apartments.  The total indebtedness refinanced was
approximately $10,155,000.  The new indebtedness, in the principal amount of
$10,600,000, carries a stated interest rate of 7.36% and matures in October
2004. The proceeds from the refinancing enabled the Partnership to pay off its
previous first mortgage note and a participating note held by a former lender.
In order to obtain the new loan on Oak Run Apartments, the lender required that
the property be conveyed to a single purpose entity.  As a result, the property
was conveyed from the Partnership to Oak Run, L.L.C., a South Carolina limited
liability company.  The Partnership is the sole owner of Oak Run, L.L.C.

An affiliate of the Managing General Partner has made available to the
Partnership a credit line of up to $150,000 per property owned by the
Partnership.  At the present time, the Partnership has no outstanding amounts
due under this line of credit.  Based on present plans, the Managing General
Partner does not anticipate the need to borrow in the near future.  Other than
cash and cash equivalents, the line of credit is the Partnership's only unused
source of liquidity.

The sufficiency of existing liquid assets to meet future liquidity and capital
expenditure requirements is directly related to the level of capital
expenditures required at the properties to adequately maintain the physical
assets and other operating needs of the Partnership.  Such assets are currently
thought to be sufficient for any near-term needs of the Partnership.  The
mortgage indebtedness of $18,504,000 is amortized over thirty years with balloon
payments of $7,877,000 and $9,728,000 due in January 1999 and October 2004,
respectively, at which time the properties will either be refinanced or sold. No
cash distributions were made during the first quarter of 1998 or 1997.  The
Managing General Partner is currently evaluating the feasibility of a
distribution to be made during the second quarter of 1998.  Future cash
distributions will depend on the levels of cash generated from operations,
property sales, and the availability of cash reserves.

On December 17, 1997, an Insignia affiliate (the "Purchaser") commenced tender
offers for limited partnership interests in six real estate limited partnerships
(including the Partnership) in which various Insignia affiliates act as general
partner.  The Purchaser offered to purchase up to 30,000 of the outstanding
units of limited partnership interest in the Partnership, at $70.00 per Unit,
net to the seller in cash, upon the terms and subject to the conditions set
forth in the Offer to Purchase dated December 17, 1997, (the "Offer to
Purchase") and the related Assignment of Partnership Interest attached as
Exhibits (a)(1) and (a)(2), respectively, to the Tender Offer Statement on
Schedule 14D-1 originally filed with the Securities and Exchange Commission on
December 17, 1997.  Because of the existing and potential future conflicts of
interest (described in the Partnership's Statements on Schedule 14D-9 filed with
the Securities and Exchange Commission), neither the Partnership nor the
Managing General Partner expressed any opinion as to the Offer to Purchase and
made no recommendation as to whether unit holders should tender their units in
response to the Offer to Purchase.  In addition, because of these conflicts of
interest, including as a result of the Purchaser's affiliation with various
Insignia affiliates that provide property management services to the
Partnership's properties, the manner in which the Purchaser votes its limited
partner interest in the Partnership may not always be consistent with the best
interests of the other limited partners.  On January 30, 1998, the Purchaser
acquired an additional 5,260 Units pursuant to its December 17, 1997 tender
offer.


Year 2000

The Partnership is dependent upon the Managing General Partner and Insignia for
management and administrative services.  Insignia has completed an assessment
and will have to modify or replace portions of its software so that its computer
systems will function properly with respect to dates in the year 2000 and
thereafter (the "Year 2000 Issue").  The project is estimated to be completed
not later than December 31, 1998, which is prior to any anticipated impact on
its operating systems.  The Managing General Partner believes that with
modifications to existing software and conversions to new software, the Year
2000 Issue will not pose significant operational problems for its computer
systems. However, if such modifications and conversions are not made, or are not
completed timely, the Year 2000 Issue could have a material impact on the
operations of the Partnership.

Other

Certain items discussed in this quarterly report may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995 (the "Reform Act") and as such may involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of the Partnership to be materially different from any results,
performance or achievements expressed or implied by such forward-looking
statements.  Such forward-looking statements speak only as of the date of this
quarterly report. The Partnership expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Partnership's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.



                           PART II - OTHER INFORMATION


ITEM I.  LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership commenced an action entitled ROSALIE NUANES, ET AL. V. INSIGNIA
FINANCIAL GROUP, INC., ET AL. in the Superior Court of the State of California
for the County of San Mateo.  The plaintiffs named as defendants, among others,
the Partnership, the Managing General Partner and several of their affiliated
partnerships and corporate entities. The complaint purports to assert claims on
behalf of a class of limited partners and derivatively on behalf of a number of
limited partnerships (including the Partnership) which are named as nominal
defendants, challenging the acquisition by Insignia and its affiliates of
interests in certain general partner entities, past tender offers by Insignia
affiliates to acquire limited partnership units, the management of partnerships
by Insignia affiliates, as well as a recently announced agreement between
Insignia and AIMCO.  The complaint seeks monetary damages and equitable relief,
including judicial dissolution of the Partnership. The Managing General Partner
was only recently served with the complaint, which it believes to be without
merit, and intends to vigorously defend the action.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

       a)      Exhibits:

               Exhibit 27, Financial Data Schedule, is filed as an exhibit to
               this report.

       b)      Reports on Form 8-K filed during the first quarter of 1998:

               None.


                                    SIGNATURES

In accordance with the requirements of the Exchange Act, the Registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.





                           CENTURY PROPERTIES FUND XVIII


                           By:  FOX PARTNERS,
                                Its General Partner

                           By:  Fox Capital Management Corporation,
                                Its Managing General Partner

                           By:  /s/William H. Jarrard, Jr.
                                William H. Jarrard, Jr.
                                President and Director

                           By:  /s/Ronald Uretta
                                Ronald Uretta
                                Vice President and Treasurer

                           Date: May 1, 1998