<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 10-Q


             Quarterly Report Pursuant to Section 13 or 15(d) of the
                        Securities Exchange Act of 1934

                  For the Quarterly Period Ended MARCH 31, 1997

                         Commission File Number 2-92352

                            HOUSING PROGRAMS LIMITED
                       (A California Limited Partnership)

                  I.R.S. Employer Identification No. 95-3906167

                         9090 WILSHIRE BLVD., SUITE 201
                           BEVERLY HILLS, CALIF. 90211

                         Registrant's Telephone Number,
                       Including Area Code (310) 278-2191



Indicate by check mark whether the registrant (1) has filed all documents and
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding twelve 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>   2
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                               INDEX TO FORM 10-Q

                      FOR THE QUARTER ENDED MARCH 31, 1997




<TABLE>
<S>                                                                                                            <C>
PART I.  FINANCIAL INFORMATION

               Item 1.  Financial Statements

                      Balance Sheets, March 31, 1997 and December 31, 1996 .....................................1

                      Statements of Operations,
                              Three Months Ended March 31, 1997 and 1996........................................2

                      Statement of Partners' Equity (Deficiency),
                              Three Months Ended March 31, 1997 ................................................3

                      Statements of Cash Flow,
                              Three Months Ended March 31, 1997 and 1996........................................4

                      Notes to Financial Statements ............................................................5

               Item 2.  Management's Discussion and Analysis of Financial
                               Condition and Results of Operation..............................................11


PART II.  OTHER INFORMATION

               Item 1.  Legal Proceedings......................................................................13

               Item 6.  Exhibits and Reports on Form 8-K.......................................................13

               Signatures......................................................................................14
</TABLE>




<PAGE>   3
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 BALANCE SHEETS
                      MARCH 31, 1997 AND DECEMBER 31, 1996

<TABLE>
<CAPTION>
                                     ASSETS
                                                                              1997               1996
                                                                           (Unaudited)        (Audited)
                                                                           ------------      ------------
<S>                                                                        <C>               <C>         
INVESTMENTS IN LIMITED PARTNERSHIPS
    (Notes 1 and 2)                                                        $ 14,371,333      $ 14,364,056

CASH AND CASH EQUIVALENTS (Note 1)                                            1,010,286           948,476
                                                                           ------------      ------------

          TOTAL ASSETS                                                     $ 15,381,619      $ 15,312,532
                                                                           ============      ============


                                  LIABILITIES AND PARTNERS' DEFICIENCY

LIABILITIES:
     Notes payable (Notes 3 and 6)                                         $ 10,169,743      $ 10,169,743
     Accrued interest payable (Notes 3 and 6)                                11,064,338        10,811,557
     Accrued fees and expenses due general
         partners (Note 4)                                                    1,398,709         1,317,044
     Accounts payable                                                            26,415            30,905
                                                                           ------------      ------------

                                                                             22,659,205        22,329,249
                                                                           ------------      ------------

COMMITMENTS AND CONTINGENCIES (Notes 2, 4 and 5)

PARTNERS' DEFICIENCY:
     General partners                                                          (323,522)         (320,913)
     Limited partners                                                        (6,954,064)       (6,695,804)
                                                                           ------------      ------------

                                                                             (7,277,586)       (7,016,717)
                                                                           ------------      ------------
           TOTAL LIABILITIES AND PARTNERS'
                DEFICIENCY                                                 $ 15,381,619      $ 15,312,532
                                                                           ============      ============
</TABLE>



   The accompanying notes are an integral part of these financial statements.

                                        1



<PAGE>   4
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                            STATEMENTS OF OPERATIONS
                   THREE MONTHS ENDED MARCH 31, 1997 AND 1996
                                   (Unaudited)



<TABLE>
<CAPTION>
                                                       1997           1996
                                                    ---------      ---------
<S>                                                 <C>            <C>      
INTEREST INCOME                                     $  12,038      $   6,716
                                                    ---------      ---------

OPERATING EXPENSES:
     Management fees - general partner (Note 4)       131,663        131,663
     General and administrative (Note 4)               14,214         15,019
     Legal and accounting (Note 4)                     44,483         44,804
     Interest (Notes 3 and 4)                         252,781        268,988
                                                    ---------      ---------

          Total operating expenses                    443,141        460,474
                                                    ---------      ---------

LOSS FROM OPERATIONS                                 (431,103)      (453,758)

DISTRIBUTIONS FROM LIMITED
     PARTNERSHIPS RECOGNIZED
     AS INCOME                                        133,856        145,401

EQUITY IN INCOME  OF LIMITED
     PARTNERSHIPS AND AMORTIZATION
     OF ACQUISITION COSTS (Note 2)                     36,378         38,000
                                                    ---------      ---------

NET LOSS                                            $(260,869)     $(270,357)
                                                    =========      =========

NET LOSS PER LIMITED PARTNERSHIP INTEREST           $     (21)     $     (22)
                                                    =========      =========
</TABLE>



   The accompanying notes are an integral part of these financial statements.

                                        2



<PAGE>   5
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                   STATEMENT OF PARTNERS' EQUITY (DEFICIENCY)
                        THREE MONTHS ENDED MARCH 31, 1997
                                   (Unaudited)



<TABLE>
<CAPTION>
                                           General          Limited
                                          Partners          Partners          Total
                                         -----------      -----------      -----------
<S>                                      <C>              <C>              <C>         
PARTNERSHIP INTERESTS
       March 31, 1997                                          12,368
                                                          ===========

DEFICIENCY, January 1, 1997              $  (320,913)     $(6,695,804)     $(7,016,717)

       Net loss for the three months
       ended March 31, 1997                   (2,609)        (258,260)        (260,869)
                                         -----------      -----------      -----------

DEFICIENCY, March 31, 1997               $  (323,522)     $(6,954,064)     $(7,277,586)
                                         ===========      ===========      ===========
</TABLE>



    The accompanying notes are an integral part of these inancial statements.

                                        3



<PAGE>   6
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                            STATEMENTS OF CASH FLOWS
                   THREE MONTHS ENDED MARCH 31, 1997 AND 1996
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                    1997             1996
                                                                -----------      -----------
<S>                                                             <C>              <C>         
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net  loss                                                  $  (260,869)     $  (270,357)
     Adjustments to reconcile net loss to net cash
        provided by operating activities:
            Equity in income of limited partnerships
               and amortization of acquisition costs                (36,378)         (38,000)
            Increase in accrued interest payable                    252,781          252,781
            Increase in accrued fees and
               expenses due general partners                         81,665          112,864
            Increase (decrease) in accounts payable                  (4,490)         418,185
                                                                -----------      -----------

                  Net cash provided by operating activities          32,709          475,473
                                                                -----------      -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
     Distributions from limited partnerships
        recognized as a return of capital                            29,101              -
                                                                -----------      -----------

NET INCREASE IN CASH AND CASH EQUIVALENTS                            61,810          475,473

CASH AND CASH EQUIVALENTS,  BEGINNING OF PERIOD                     948,476          595,330
                                                                -----------      -----------

CASH AND CASH EQUIVALENTS,  END OF PERIOD                       $ 1,010,286      $ 1,070,803
                                                                ===========      ===========
</TABLE>


    The accompanying notes are an integral part of these inancial statements.

                                        4



<PAGE>   7
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                          NOTES TO FINANCIAL STATEMENTS

                                 MARCH 31, 1997


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

        GENERAL

        The information contained in the following notes to the financial
        statements is condensed from that which would appear in the annual
        audited financial statements; accordingly, the financial statements
        included herein should be reviewed in conjunction with the financial
        statements and related notes thereto contained in the Housing Programs
        Limited (the "Partnership") annual report for the year ended December
        31, 1996. National Partnership Investments Corp. ("NAPICO") is a general
        partner for the Partnership. Accounting measurements at interim dates
        inherently involve greater reliance on estimates than at year end. The
        results of operations for the interim period presented are not
        necessarily indicative of the results for the entire year.

        In the opinion of NAPICO, the accompanying unaudited financial
        statements contain all adjustments (consisting primarily of normal
        recurring accruals) necessary to present fairly the financial position
        of the Partnership at March 31, 1997 and the results of operations and
        changes in cash flows for the three months then ended.

        ORGANIZATION

        The Partnership is a limited partnership which was formed under the laws
        of the State of California on May 15, 1984. On September 12, 1984, the
        Partnership offered 3,000 units consisting of 6,000 limited partnership
        interests and warrants to purchase a maximum of 6,000 additional limited
        partnership interests through a public offering .

        The general partners of the Partnership are NAPICO, Housing Programs
        Corporation II and Coast Housing Investment Associates ("CHIA"). LB I
        Group Inc. owns 100 percent of the stock of Housing Programs Corporation
        II. Casden Investment Corp. owns 100 percent of NAPICO's stock. CHIA is
        a limited partnership formed under the California Limited Partnership
        Act and consists of Messrs. Nicholas G. Ciriello, general partner and
        Charles H. Boxenbaum, limited partner. Mr. Boxenbaum is currently the
        chief executive officer of NAPICO. The business of the Partnership is
        conducted primarily by its general partners as the Partnership has no
        employees of its own.

        USE OF ESTIMATES

        The preparation of financial statements in conformity with generally
        accepted accounting principles requires management to make estimates and
        assumptions that affect the reported amounts of assets and liabilities
        and disclosure of contingent assets and liabilities at the date of the
        financial statements and reported amounts of revenues and expenses
        during the reporting period. Actual results could differ from those
        estimates.



                                        5


<PAGE>   8
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 1997


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

        METHOD OF ACCOUNTING FOR INVESTMENT IN LIMITED PARTNERSHIPS

        The investments in local limited partnerships are accounted for on the
        equity method. Acquisition, selection fees and other costs related to
        the acquisition of the projects have been capitalized to the investment
        accounts.

        NET LOSS PER LIMITED PARTNERSHIP INTEREST

        Net loss per limited partnership interest was computed by dividing the
        limited partners' share of net loss by the number of limited partnership
        interests outstanding during the year. The number of limited partnership
        interests was 12,368 for all years presented.

        CASH AND CASH EQUIVALENTS

        Cash and cash equivalents consist of cash and bank certificates of
        deposit with an original maturity of three months or less.

        INCOME TAXES

        No provision has been made for income taxes in the accompanying
        financial statements since such taxes, if any, are the liability of the
        individual partners.

        IMPAIRMENT OF LONG-LIVED ASSETS

        The Partnership adopted Statement of Financial Accounting Standards No.
        121, Account for the Improvement of Long-Lived Assets and for Long-Lived
        Assets To Be Disposed Of as of January 1, 1996 without a significant
        effect on its financial statements. The Partnership reviews long-lived
        assets to determine if there has been any permanent impairment whenever
        events or changes in circumstances indicate that the carrying amount of
        the asset may not be recoverable. If the sum of the expected future cash
        flows is less than the carrying amount of the assets, the Partnership
        recognizes an impairment loss.

        The Partnership now holds indirect interests in 18 properties, as the
        sole limited partner in various limited partnerships. The 18 lower-tier
        limited partnerships own residential rental projects consisting of a
        total of 2,686 apartment units. The mortgage loans encumbering these
        projects are insured by various governmental agencies.



                                        6


<PAGE>   9
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 1997


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIPS

        The Partnership, as a limited partner, is entitled to 99 percent of the
        income and losses of the lower-tier limited partnerships.

        The Partnership's allocated portion of equity in losses from the
        lower-tier limited partnerships is recognized in the financial
        statements of the Partnership until the Partnership's investment account
        in the applicable lower-tier limited partnership is reduced to a zero
        balance. Losses incurred after the investment account is reduced to zero
        are not recognized.

        Distributions from the limited partnerships are treated as a reduction
        of capital until the Partnership's investment account balance in the
        applicable lower-tier limited partnership has been reduced to the lesser
        of zero or a negative amount equal to future capital contributions
        required to be made by the Partnership to the applicable lower-tier
        limited partnership. Subsequent distributions are treated as income.

        The following is a summary of the Partnership's investment in lower-tier
        limited partnerships as of March 31, 1997:

<TABLE>
<S>                                                                   <C>        
        Balance, beginning of period                                  $14,364,056
        Amortization of acquisition costs                                  (9,622)
        Equity in income of limited partnerships                           46,000
        Distribution recognized as return of capital                      (29,101)
                                                                      -----------
        Balance, end of period                                        $14,371,333
                                                                      ===========
</TABLE>

        The following are unaudited combined estimated statements of operations
        for the three months ended March 31, 1997 and 1996 for the limited
        partnerships in which the Partnership has investments:

<TABLE>
<CAPTION>
                                 Three months     Three months
                                    ended            ended
                                March 31, 1997   March 31, 1996
                                --------------   --------------
<S>                               <C>              <C>        
        INCOME
           Rental and Other       $ 4,484,000      $ 4,283,000

        EXPENSES
           Depreciation               883,000          881,000
           Interest                   910,000          927,000
           Operating                2,982,000        2,823,000
                                  -----------      -----------

               Total expenses       4,775,000        4,631,000
                                  -----------      -----------

        NET LOSS                  $  (294,000)     $  (348,000)
                                  ===========      ===========
</TABLE>



                                        7


<PAGE>   10
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 1997


NOTE 3 - NOTES PAYABLE

        Certain of the Partnership's investments involved purchases of
        partnership interests from partners who subsequently withdrew from the
        operating partnership. The Partnership is obligated for various
        non-recourse notes payable of $10,169,743, bearing interest at 9.5
        percent per annum through December 31, 1994 to the various sellers of
        the partnership interests. Effective January 1, 1995, the interest rate
        for the two notes totaling $1,500,000 changed to 12.5 percent per terms
        of the notes. The notes have principal maturity dates ranging from
        October 31, 1996 to December 2001 or upon sale or refinancing of the
        underlying partnership properties. These obligations and the related
        interest are collateralized by the Partnership's investment in the
        investee limited partnerships and are payable only out of cash
        distributions from the investee partnerships, as defined in the notes.
        Unpaid interest is due at maturity of the notes.

        The lower-tier partnership that owns the Deep Lake Hermitage Apartments
        has entered into a contract for the sale of Deep Lake Hermitage. There
        is a $1,500,000 notes payable (which matured in October, 1996) by the
        Partnership to sellers of interests in the lower-tier partnership that
        owns the Deep Lake Hermitage property. The total outstanding balance of
        the notes, including accrued interest of $1,682,221, at March 31, 1997
        is approximately $3,182,221, which currently due and payable. Based on
        the current estimated value of the Deep Lake Hermitage property, the
        sale will not generate sufficient funds to fully repay the notes
        payable. The Partnership has entered into an agreement with the
        noteholders who will accept a reduced payment of $1,000,000 together
        with net cash flow generated by the project since October, 1996 in full
        satisfaction of all obligations in order to enable the sale of the
        project. The project is in the process of being sold for $4,800,000,
        which is scheduled to be completed in August, 1997. Because the notes
        and interest payable are non-recourse liabilities, a gain on debt
        forgiveness is expected to be realized by the Partnership upon sale of
        the property. However, if the sale is not completed, the Partnership has
        deposited into escrow an assignment of the Partnership's interest in
        Deep Lake Hermitage Apartments, which assignment will be delivered to
        the noteholders, resulting in the loss of the Partnership's interest in
        the Deep Lake Local Partnership. The Partnership's carrying value of the
        investment in the Deep Lake Local Partnership is approximately $980,000
        at March 31, 1997.

NOTE 4 - FEES AND EXPENSES DUE TO GENERAL PARTNERS

        Under the terms of the Partnership's Restated Certificate and Agreement
        of Limited Partnership, the Partnership is obligated to the general
        partners for an annual management fee equal to 0.5 percent of the
        invested assets of the limited partnerships. Invested assets is defined
        as the costs of acquiring project interests including the proportionate
        amount of the mortgage loans related to the Partnership's interests in
        the capital accounts of the respective limited partnerships. For the
        three months ended March 31, 1997 and 1996, the expense was $131,663.

        The Partnership also reimburses NAPICO for certain expenses. The
        reimbursement to NAPICO was $0, and $7,461 for the three months ended
        March 31, 1997 and 1996, respectively, and is included in operating
        expenses.



                                        8


<PAGE>   11
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 1997


NOTE 4 - FEES AND EXPENSES DUE TO GENERAL PARTNERS (CONTINUED)

        As of March 31, 1997, the fees and expenses due the general partners
        exceeded the Partnership's cash and cash equivalents and short term
        investments. The general partners, during the forthcoming year, will not
        demand payment of amounts due in excess of such cash or such that the
        Partnership would not have sufficient operating cash; however, the
        Partnership will remain liable for all such amounts.

        An affiliate of NAPICO is the general partner in ten of the limited
        partnerships, and another affiliate receives property management fees of
        approximately 5 to 6 percent of revenues from five of the ten
        partnerships. For the three months ended March 31, 1997 and 1996,
        approximately $61,600 and $58,900, respectively, was paid to the NAPICO
        affiliate for property management fees.

        Pursuant to a Memorandum of Understanding entered into on August 11,
        1995, the Partnership paid interest of $16,207 on May 1, 1996 to an
        affiliate of NAPICO, that served as the management company for
        properties owned by the Partnership. The interest relates to funds
        advanced to the Partnership by the master disbursement account
        maintained by the management company. In addition, the Partnership on
        May 1, 1996 reimbursed Housing Programs Corporation II $15,000 for
        professional fees, which were paid on behalf of the Partnership in
        connection with issues raised in the Memorandum of Understanding.

NOTE 5 - CONTINGENCIES

        NAPICO is a plaintiff in various lawsuits and has also been named as
        defendant in other lawsuits arising from transactions in the ordinary
        course of business. In the opinion of NAPICO, the claims will not result
        in any material liability to the Partnership.

NOTE 6 - FAIR VALUE OF FINANCIAL INSTRUMENTS

        Statement of Financial Accounting Standards No. 107, "Disclosure about
        Fair Value of Financial Instruments," requires disclosure of fair value
        information about financial instruments, when it is practicable to
        estimate that value. The notes payable are collateralized by the
        Partnership's investments in investee limited partnerships and are
        payable only out of cash distributions from the investee partnerships.
        The cash flow generated by operations of the investee limited
        partnerships, which account for the Partnership's primary source of
        revenues, are subject to various government rules, regulations and
        restrictions which make it impracticable to estimate the fair value of
        the notes payable and related accrued interest. The carrying amount of
        other assets and liabilities reported on the balance sheets that require
        such disclosure approximates fair value due to their short-term
        maturity.


                                        9


<PAGE>   12
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 1997


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

        LIQUIDITY AND CAPITAL RESOURCES

        The Partnership's primary sources of funds include interest income
        earned from investing available cash and distributions from limited
        partnerships in which the Partnership has invested. It is not expected
        that any of the local limited partnerships in which the Partnership has
        invested will generate cash flow sufficient to provide for distributions
        to limited partners in any material amount.

        RESULTS OF OPERATIONS

        Partnership revenues consist primarily of interest income earned on
        certificates of deposit and other temporary investment of funds. The
        Partnership may also receive distributions from the lower-tier limited
        partnerships in which it has invested.

        Operating expenses of the Partnership consist of recurring general and
        administrative expenses, professional fees for services rendered to the
        Partnership and accrued interest on the notes payable. In addition, an
        annual Partnership management fee in an amount equal to .5 percent of
        invested assets is payable to the general partners.

        The Partnership accounts for its investments in the local limited
        partnerships on the equity method, thereby adjusting its investment
        balance by its proportionate share of the income or loss of the local
        limited partnerships. Losses incurred after the limited partnership
        investment account is reduced to zero are not recognized.

        Distributions received from limited partnerships are recognized as
        return of capital until the investment balance has been reduced to zero
        or to a negative amount equal to future capital contributions required.
        Subsequent distributions received are recognized as income.

        Except for certificates of deposit and money market funds, the
        Partnership's investments are entirely of interests in other limited
        partnerships owning government assisted housing projects. Available cash
        is invested to provide interest income as reflected in the statements of
        operations. These funds can be converted to cash to meet obligations as
        they arise. The Partnership intends to continue investing available
        funds in this manner.

        The lower-tier partnership that owns the Deep Lake Hermitage Apartments
        has entered into a contract for the sale of Deep Lake Hermitage. There
        is a $1,500,000 note payable (which note matured in October, 1996) by
        the Partnership to a seller of interests in the lower-tier partnership
        that owns the Deep Lake Hermitage property. The total outstanding
        balance of the note (including accrued interest of $1,682,221) is
        approximately $3,182,221, which is currently due and payable. Based on
        the current estimated value of the Deep Lake Hermitage property, the
        sale will not generate sufficient funds to fully repay the note payable.
        The Partnership has entered into an agreement with the noteholders who
        will accept a reduced payment of $1,000,000 together with net cash flow
        generated by the project since October, 1996 in full satisfaction of all
        obligations in order to enable the sale of the project. The project is
        in the process of


                                       10


<PAGE>   13
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 1997


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

        being sold for $4,800,000, which is scheduled to be completed in August,
        1997. Because the note and interest payable are non-recourse
        liabilities, a gain on debt forgiveness is expected to be realized by
        the Partnership upon sale of the property. However, if the sale is not
        completed, the Partnership has deposited into escrow an assignment of
        the Partnership's interest in the lower-tier partnership which owns the
        Deep Lake Hermitage Apartments, which assignment will be delivered to
        the noteholders, resulting in the loss of the Partnership's interest in
        the Deep Lake Local Partnership. The Partnership's carrying value of the
        investment in the Deep Lake Local Partnership is approximately $980,000.




                                       11


<PAGE>   14
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 1997



PART II.     OTHER INFORMATION

ITEM 1.      LEGAL PROCEEDINGS

As of March 31, 1997, NAPICO was a plaintiff or defendant in several lawsuits.
None of these suits are related to the Partnership. In the opinion of NAPICO,
the claims will not result in any material liability to the Partnership.


ITEM 6.      EXHIBITS AND REPORTS ON FORM 8-K

        (a) No reports on Form 8-K were filed during the quarter ended March 31,
1997.




                                       12


<PAGE>   15
                            HOUSING PROGRAMS LIMITED
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 1997

                                   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 thereunto duly authorized.


                                  HOUSING PROGRAMS LIMITED
                                  (a California limited partnership)



                                  By:   National Partnership Investments Corp.
                                        General Partner


                                  Date:
                                       -----------------------------------------



                                  By:
                                      ------------------------------------------
                                        Bruce Nelson
                                        President


                                  Date:
                                       -----------------------------------------



                                  By:
                                      ------------------------------------------
                                        Shawn Horwitz
                                        Executive Vice President and
                                        Chief Financial Officer


                                  Date:
                                       -----------------------------------------



                                       13