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

                           FORM 10-QSB

           Quarterly Report Under Section 13 or 15(d)
             of The Securities Exchange Act of 1934

           For the Quarter Ended:  September 30, 2003

                 Commission file number:  24003


          AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP
(Exact Name of Small Business Issuer as Specified in its Charter)


      State of Minnesota                   41-1848181
(State or other Jurisdiction of         (I.R.S. Employer
Incorporation or Organization)        Identification No.)


    30 East 7th Street, Suite 1300, St. Paul, Minnesota 55101
             (Address of Principal Executive Offices)

                          (651) 227-7333
                   (Issuer's telephone number)


                         Not Applicable
 (Former name, former address and former fiscal year, if changed
                       since last report)

Check  whether  the issuer (1) 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

         Transitional Small Business Disclosure Format:

                        Yes       No [X]




        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP


                              INDEX




PART I.Financial Information

 Item 1. Balance Sheet as of September 30, 2003 and December 31, 2002

         Statements for the Periods ended September 30, 2003 and 2002:

           Income

           Cash Flows

           Changes in Partners' Capital

         Notes to Financial Statements

 Item 2. Management's Discussion and Analysis

 Item 3. Controls and Procedures

PART II. Other Information

 Item 1. Legal Proceedings

 Item 2. Changes in Securities

 Item 3. Defaults Upon Senior Securities

 Item 4. Submission of Matters to a Vote of Security Holders

 Item 5. Other Information

 Item 6. Exhibits and Reports on Form 8-K

         Signatures



<PAGE>
        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                          BALANCE SHEET

            SEPTEMBER 30, 2003 AND DECEMBER 31, 2002

                           (Unaudited)


                             ASSETS

                                                 2003             2002

CURRENT ASSETS:
  Cash and Cash Equivalents                  $ 2,375,567      $ 2,108,482
  Receivables                                     48,251            3,563
                                              -----------      -----------
                                               2,423,818        2,112,045
                                              -----------      -----------
INVESTMENTS IN REAL ESTATE:
  Land                                         4,073,649        4,684,762
  Buildings and Equipment                      6,753,019        6,883,098
  Construction in Progress                       889,670            3,687
  Accumulated Depreciation                      (786,687)        (938,819)
                                              -----------      -----------
      Net Investments in Real Estate          10,929,651       10,632,728
                                              -----------      -----------
           Total  Assets                     $13,353,469      $12,744,773
                                              ===========      ===========


                LIABILITIES AND PARTNERS' CAPITAL

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.       $    18,449      $    11,613
  Distributions Payable                          281,229          287,113
                                              -----------      -----------
      Total Current Liabilities                  299,678          298,726
                                              -----------      -----------
PARTNERS' CAPITAL:
  General Partners                                11,113            3,792
  Limited Partners, $1,000 Unit Value;
   24,000 Units authorized; 16,917 Units issued;
   16,414 and 16,516 Units outstanding
   in 2003 and 2002, respectively             13,042,678       12,442,255
                                              -----------      -----------
    Total Partners' Capital                   13,053,791       12,446,047
                                              -----------      -----------
     Total Liabilities and Partners' Capital $13,353,469      $12,744,773
                                              ===========      ===========

 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
<PAGE>
<PAGE>
        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                       STATEMENT OF INCOME

               FOR THE PERIODS ENDED SEPTEMBER 30

                           (Unaudited)

                               Three Months Ended       Nine Months Ended
                              9/30/03       9/30/02    9/30/03      9/30/02

RENTAL INCOME               $  228,480    $  239,426  $  656,077   $  763,535

EXPENSES:
   Partnership Administration -
    Affiliates                  45,027        35,752     124,239      129,714
   Partnership Administration
    and Property Management -
    Unrelated Parties            5,246         6,305      39,878       34,645
   Depreciation                 61,178        71,722     170,589
214,971                      ----------    ----------  ----------   ----------
        Total Expenses         111,451       113,779     334,706      379,330
                             ----------    ----------  ----------   ----------

OPERATING INCOME               117,029       125,647     321,371      384,205

OTHER INCOME:
   Interest Income              36,981         6,539      72,431       11,954
   Gain on Sale of Real Estate  62,165       211,255     360,215      325,625
                             ----------    ----------  ----------   ----------
        Total Other Income      99,146       217,794     432,646      337,579
                             ----------    ----------  ----------   ----------
INCOME FROM CONTINUING
   OPERATIONS                  216,175       343,441     754,017      721,784

Income from Discontinued
  Operations                         0        31,453     797,274       94,669
                             ----------    ----------  ----------   ----------
NET INCOME                  $  216,175    $  374,894  $1,551,291   $  816,453
                             ==========    ==========  ==========   ==========

NET INCOME ALLOCATED:
   General Partners         $    7,759    $    9,500  $   28,961   $   25,667
   Limited Partners            208,416       365,394   1,522,330      790,786
                             ----------    ----------  ----------   ----------
                            $  216,175    $  374,894  $1,551,291   $  816,453
                             ==========    ==========  ==========   ==========
INCOME PER LIMITED PARTNERSHIP UNIT:
   Continuing Operations    $    12.70    $    20.24  $    44.98   $    42.23
   Discontinued Operations           0          1.84       47.57         5.55
                             ----------    ----------  ----------   ----------
        Total               $    12.70    $    22.08  $    92.55   $    47.78
                             ==========    ==========  ==========   ==========
Weighted Average Units
  Outstanding                   16,414        16,547       16,448      16,550
                             ==========    ==========  ==========   ==========

The accompanying Notes to Financial Statements are an integral part
                       of this statement.
</PAGE>
<PAGE>
        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                     STATEMENT OF CASH FLOWS

               FOR THE PERIODS ENDED SEPTEMBER 30

                           (Unaudited)

                                                   2003             2002

CASH FLOWS FROM OPERATING ACTIVITIES:
   Net Income                                  $ 1,551,291      $   816,453

   Adjustments To Reconcile Net Income
 To Net Cash Provided By Operating Activities:
     Depreciation                                  186,872          253,103
     Gain on Sale of Real Estate                (1,116,075)        (325,625)
     Increase in Receivables                       (44,688)               0
     Increase in Payable to
        AEI Fund Management, Inc.                    6,836            2,310
                                                -----------      ------------
       Total Adjustments                          (967,055)         (70,212)
                                                -----------      ------------
       Net Cash Provided By
          Operating Activities                     584,236          746,241
                                                -----------      ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Investments in Real Estate                    (3,521,640)               0
  Proceeds from Sale of Real Estate              4,153,920        1,483,657
                                                -----------      ------------
       Net Cash Provided By
          Investing Activities                     632,280        1,483,657
                                                -----------      ------------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Decrease in Distributions Payable                 (5,884)          (1,216)
  Distributions to Partners                       (864,577)        (884,258)
  Redemption Payments                              (78,970)          (7,738)
                                                ------------     ------------
       Net Cash Used For
          Financing Activities                    (949,431)        (893,212)
                                                ------------     ------------

NET INCREASE IN CASH AND CASH EQUIVALENTS          267,085        1,336,686

CASH AND CASH EQUIVALENTS, beginning of period   2,108,482          880,350
                                                ------------     ------------
CASH AND CASH EQUIVALENTS, end of period       $ 2,375,567      $ 2,217,036
                                                ============     ============

 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

            STATEMENT OF CHANGES IN PARTNERS' CAPITAL

               FOR THE PERIODS ENDED SEPTEMBER 30

                           (Unaudited)

                                                                     Limited
                                                                   Partnership
                              General      Limited                    Units
                              Partners     Partners     Total      Outstanding


BALANCE, December 31, 2001  $   1,645   $12,585,494  $12,587,139    16,556.63

  Distributions               (23,901)     (860,357)    (884,258)

  Redemption Payments            (232)       (7,506)      (7,738)      (10.00)

  Net Income                   25,667       790,786      816,453
                             ---------   -----------  ------------  ---------
BALANCE, September 30, 2002 $   3,179   $12,508,417  $12,511,596    16,546.63
                             =========   ===========  ============  =========


BALANCE, December 31, 2002  $   3,792   $12,442,255  $12,446,047    16,516.29

  Distributions               (19,271)     (845,306)    (864,577)

  Redemption Payments          (2,369)      (76,601)     (78,970)     (102.29)

  Net Income                   28,961     1,522,330    1,551,291
                             ---------   -----------  ------------  ---------
BALANCE, September 30, 2003 $  11,113   $13,042,678  $13,053,791    16,414.00
                             =========   ===========  ============  =========

 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 2003

                           (Unaudited)

(1)  The  condensed  statements included herein have been  prepared
     by  the Partnership, without audit, pursuant to the rules  and
     regulations  of  the Securities and Exchange  Commission,  and
     reflect   all  adjustments  which  are,  in  the  opinion   of
     management,  necessary to a fair statement of the  results  of
     operations for the interim period, on a basis consistent  with
     the  annual audited statements.  The adjustments made to these
     condensed   statements  consist  only  of   normal   recurring
     adjustments.   Certain information, accounting  policies,  and
     footnote    disclosures   normally   included   in   financial
     statements  prepared  in  accordance with  generally  accepted
     accounting principles have been condensed or omitted  pursuant
     to  such  rules  and  regulations,  although  the  Partnership
     believes  that  the  disclosures  are  adequate  to  make  the
     information  presented not misleading.  It is  suggested  that
     these  condensed financial statements be read  in  conjunction
     with  the  financial statements and the summary of significant
     accounting  policies  and  notes  thereto  included   in   the
     Partnership's latest annual report on Form 10-KSB.

(2)  Organization -

     AEI   Income   &   Growth  Fund  XXII  Limited   Partnership
     (Partnership)  was  formed to acquire and  lease  commercial
     properties   to   operating  tenants.    The   Partnership's
     operations  are  managed by AEI Fund  Management  XXI,  Inc.
     (AFM), the Managing General Partner.  Robert P. Johnson, the
     President  of AFM, serves as the Individual General  Partner
     and  an  affiliate of AFM, AEI Fund Management, Inc.  (AEI),
     performs the administrative and operating functions for  the
     Partnership.

     The   terms   of  the  Partnership  offering  call   for   a
     subscription  price of $1,000 per Limited Partnership  Unit,
     payable   on  acceptance  of  the  offer.   The  Partnership
     commenced   operations   on  May  1,   1997   when   minimum
     subscriptions    of   1,500   Limited   Partnership    Units
     ($1,500,000) were accepted.  The offering terminated January
     9,  1999  when  the extended offering period  expired.   The
     Partnership  received subscriptions for  16,917.222  Limited
     Partnership   Units.   Under  the  terms  of   the   Limited
     Partnership  Agreement,  the Limited  Partners  and  General
     Partners  contributed  funds  of  $16,917,222  and   $1,000,
     respectively.

     During operations, any Net Cash Flow, as defined, which  the
     General Partners determine to distribute will be distributed
     97%  to the Limited Partners and 3% to the General Partners.
     Distributions to Limited Partners will be made pro  rata  by
     Units.

     Any  Net  Proceeds  of Sale, as defined, from  the  sale  or
     financing of properties which the General Partners determine
     to distribute will, after provisions for debts and reserves,
     be  paid  in  the following manner: (i) first,  99%  to  the
     Limited  Partners and 1% to the General Partners  until  the
     Limited  Partners  receive an amount  equal  to:  (a)  their
     Adjusted Capital Contribution plus (b) an amount equal to 9%
     of their Adjusted Capital Contribution per annum, cumulative
     but not compounded, to the extent not previously distributed
     from  Net  Cash  Flow;  (ii) any remaining balance  will  be
     distributed  90%  to the Limited Partners  and  10%  to  the
     General  Partners.   Distributions to the  Limited  Partners
     will be made pro rata by Units.

        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 2003
                           (Continued)

(2)  Organization - (Continued)

     For  tax  purposes,  profits  from  operations,  other  than
     profits  attributable  to  the  sale,  exchange,  financing,
     refinancing  or  other  disposition  of  property,  will  be
     allocated  first  in the same ratio in  which,  and  to  the
     extent,  Net  Cash Flow is distributed to the  Partners  for
     such year.  Any additional profits will be allocated in  the
     same  ratio  as  the  last  dollar  of  Net  Cash  Flow   is
     distributed.   Net losses from operations will be  allocated
     99% to the Limited Partners and 1% to the General Partners.

     For  tax purposes, profits arising from the sale, financing,
     or  other  disposition  of property  will  be  allocated  in
     accordance  with the Partnership Agreement as  follows:  (i)
     first,  to  those  partners with deficit balances  in  their
     capital  accounts  in an amount equal to  the  sum  of  such
     deficit  balances; (ii) second, 99% to the Limited  Partners
     and  1%  to the General Partners until the aggregate balance
     in  the Limited Partners' capital accounts equals the sum of
     the Limited Partners' Adjusted Capital Contributions plus an
     amount  equal  to 9% of their Adjusted Capital Contributions
     per  annum, cumulative but not compounded, to the extent not
     previously  allocated;  (iii)  third,  the  balance  of  any
     remaining  gain  will then be allocated 90% to  the  Limited
     Partners  and 10% to the General Partners.  Losses  will  be
     allocated 98% to the Limited Partners and 2% to the  General
     Partners.

     The  General Partners are not required to currently  fund  a
     deficit   capital   balance.   Upon   liquidation   of   the
     Partnership or withdrawal by a General Partner, the  General
     Partners will contribute to the Partnership an amount  equal
     to  the  lesser  of  the deficit balances in  their  capital
     accounts  or  1%  of  total Limited  Partners'  and  General
     Partners' capital contributions.

(3)  Summary of Real Estate Accounting Policies -

     The  Partnership's real estate is leased  under  triple  net
     leases  classified as operating leases.  The leases  provide
     for   base   annual  rental  payments  payable  in   monthly
     installments.   The  Partnership recognizes  rental  revenue
     according to the terms of the individual leases.  For leases
     which  contain  stated rental increases, the  increases  are
     recognized   in  the  year  in  which  they  are  effective.
     Contingent   rental   payments  are  recognized   when   the
     contingencies on which the payments are based are  satisfied
     and  the rental payments become due under the terms  of  the
     leases.

     Real  estate  is recorded at the lower of cost or  estimated
     net realizable value.  The Partnership compares the carrying
     amount  of  its  properties  to the  estimated  probability-
     weighted  future  cash flows expected  to  result  from  the
     property  and its eventual disposition.  If the sum  of  the
     expected future cash flows is less than the carrying  amount
     of  the  property, the Partnership recognizes an  impairment
     loss  by  the  amount by which the carrying  amount  of  the
     property exceeds the fair value of the property.

     The  Partnership  has  capitalized as  Investments  in  Real
     Estate  certain costs incurred in the review and acquisition
     of  the  properties.  The costs were allocated to the  land,
     buildings and equipment.

        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 2003
                           (Continued)

(3)  Summary of Real Estate Accounting Policies - (Continued)

     The   buildings   and  equipment  of  the  Partnership   are
     depreciated  using  the straight-line method  for  financial
     reporting  purposes based on estimated useful  lives  of  25
     years and 5 years, respectively.

     In   accordance  with  Statement  of  Financial   Accounting
     Standards No. 144, Accounting for the Impairment or Disposal
     of  Long-Lived Assets, upon complete disposal of a  property
     or  classification  of a property as Real  Estate  Held  for
     Sale,  the  Partnership includes the operating  results  and
     sale  of  the  property  in  discontinued  operations.    In
     addition,  the  Partnership reclassifies the  prior  periods
     operating  results and any partial sales of the property  to
     discontinued operations.

     The Partnership accounts for properties owned as tenants-in-
     common  with affiliated Partnerships and/or unrelated  third
     parties using the proportionate consolidation method.   Each
     tenant-in-common owns a separate, undivided interest in  the
     properties.  Any tenant-in-common that holds more than a 50%
     interest does not control decisions over the other tenant-in-
     common  interests.   The financial statements  reflect  only
     this Partnership's percentage share of the properties' land,
     building and equipment, liabilities, revenues and expenses.

(4)  Reclassification -

     Certain items in the prior year's financial statements  have
     been  reclassified  to conform to 2003 presentation.   These
     reclassifications  had no effect on Partners'  capital,  net
     income or cash flows.

(5)  Investments in Real Estate -

     On  January 1, 2002, the Partnership owned 64.4916%  of  the
     Hollywood  Video store in Saraland, Alabama.  In  2002,  the
     Partnership  sold 61.4116% of the property, in two  separate
     transactions,  to unrelated third parties.  The  Partnership
     received total net sale proceeds of $896,350, which resulted
     in  a  net  gain  of $120,988.  The total cost  and  related
     accumulated depreciation of the interests sold was  $846,185
     and  $70,823,  respectively.   For  the  nine  months  ended
     September 30, 2002, the net gain was $81,218

     Through December 31, 2002, the Partnership sold 38.0038%  of
     the  Children's World in Golden, Colorado, in five  separate
     transactions,  to unrelated third parties.  The  Partnership
     received total net sale proceeds of $790,102, which resulted
     in  a  net  gain  of $164,893.  The total cost  and  related
     accumulated depreciation of the interests sold was  $638,318
     and  $13,109,  respectively.   For  the  nine  months  ended
     September 30, 2002, the net gain was $-0-.

     During  2002,  the  Partnership sold  39.1271%  of  the  TGI
     Friday's  restaurant,  in  three separate  transactions,  to
     unrelated third parties.  The Partnership received total net
     sale  proceeds of $789,247, which resulted in a net gain  of
     $208,061.     The   total   cost  and  related   accumulated
     depreciation of the interests sold was $653,564 and $72,378,
     respectively.  For the nine months ended September 30, 2002,
     the net gain was $208,061.


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 2003
                           (Continued)

(5)  Investments in Real Estate - (Continued)

     Through September 30, 2003, the Partnership sold 24.6846% of
     the Children's World daycare center in Plainfield, Illinois,
     in  three separate transactions, to unrelated third parties.
     The   Partnership  received  total  net  sale  proceeds   of
     $450,673,  which  resulted in a net gain of  $103,162.   The
     total  cost  and  related accumulated  depreciation  of  the
     interests sold was $363,531 and $16,020, respectively.   For
     the  nine months ended September 30, 2003 and 2002, the  net
     gain was $53,648 and $36,346, respectively.

     During  the first nine months of 2003, the Partnership  sold
     99.4123%   of  the  Arby's  restaurant,  in  five   separate
     transactions,  to unrelated third parties.  The  Partnership
     received  total  net  sale  proceeds  of  $1,562,751,  which
     resulted  in  a  net gain of $306,567.  The total  cost  and
     related  accumulated depreciation of the interests sold  was
     $1,384,408 and $128,224, respectively.

     During  the  first  nine  months  of  2003  and  2002,   the
     Partnership  distributed $333,333 and $131,313 of  net  sale
     proceeds  to  the Limited and General Partners  as  part  of
     their  regular quarterly distributions, which represented  a
     return   of   capital  of  $20.08  and  $7.86  per   Limited
     Partnership  Unit,  respectively.  The  remaining  net  sale
     proceeds will either be reinvested in additional property or
     distributed to the Partners in the future.

     On  December  6,  2002,  the  Partnership  purchased  a  50%
     interest  in  a  parcel of land in West  Chester,  Ohio  for
     $476,913,  including acquisition expenses.  The  Partnership
     obtained  title to the land in the form of an undivided  fee
     simple interest in the 50% interest purchased.  The land  is
     leased  to Champps Operating Corporation (Champps)  under  a
     Lease  Agreement with a primary term of 20 years and  annual
     rental  payments  of  $50,600.    Simultaneously  with   the
     purchase  of  the  land,  the  Partnership  entered  into  a
     Development  Financing Agreement under which the Partnership
     will  advance  funds to Champps for the  construction  of  a
     Champps  Americana restaurant on the site. Pursuant  to  the
     Lease,  any improvements to the land during the term of  the
     Lease  become the property of the lessor.  Through September
     30,  2003,  the  Partnership had advanced $889,670  for  the
     construction  of the property and was charging  interest  on
     the advances at a rate of 10.0%.  The Partnership's share of
     the  total  purchase price, including the cost of the  land,
     will be approximately $1,750,000.  After the construction is
     complete,  the  Lease Agreement will be amended  to  require
     annual  rental  payments  of approximately  $175,000.    The
     remaining interest in the property is owned by AEI Net Lease
     Income  and Growth Fund XX Limited Partnership, an affiliate
     of the Partnership.

     On  August 27, 2003, the Company purchased a 32% interest in
     a   Garden  Ridge  retail  store  in  Woodlands,  Texas  for
     $2,631,968.  The property is leased to Cypress/GR  Woodlands
     I,  L.P. under a Lease Agreement with a primary term  of  20
     years and annual rental payments of $301,611.  The remaining
     interests in the property were purchased by AEI Real  Estate
     Fund XVIII Limited Partnership, AEI Income & Growth Fund  24
     LLC  and  AEI  Real  Estate  Fund  XV  Limited  Partnership,
     affiliates of the Partnership.




        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 2003
                           (Continued)

(5)  Investments in Real Estate - (Continued)

     In  November 2003, the Partnership entered into an Agreement
     to  purchase a 50% interest in a Tia's Tex-Mex restaurant in
     Killeen,  Texas for approximately $1,035,000.  The  property
     will  be  leased to Tia's Texas - Alamo LLC  under  a  Lease
     Agreement with a primary term of 15 years and annual  rental
     payments  of approximately $105,570.  The remaining interest
     in  the property will be purchased by AEI Private Net  Lease
     Millennium  Fund  Limited Partnership, an affiliate  of  the
     Partnership.

     In  July  2003,  the  lessee of the Razzoo's  restaurant  in
     Austin,  Texas  notified  the  Partnership  that  they   are
     experiencing financial difficulty and may not be able to pay
     future  rents.  However, rents are current through  November
     30, 2003 and the Partnership holds a personal guarantee from
     the  majority shareholder of the lessee for payment  of  all
     rents.   The  personal guarantee expires on June  27,  2004.
     Due  to this notification, the Partnership is evaluating the
     lease  and  property  value  and  has  decided  that  it  is
     premature to recognize an impairment loss at this time.   It
     is  reasonably possible that this decision may change in the
     future.   At  September  30, 2003, the  book  value  of  the
     Razzoo's property owned by the Partnership is $1,456,781.

(6)  Payable to AEI Fund Management, Inc. -

     AEI  Fund  Management, Inc. performs the administrative  and
     operating functions for the Partnership.  The payable to AEI
     Fund   Management  represents  the  balance  due  for  those
     services.    This  balance  is  non-interest   bearing   and
     unsecured  and  is  to  be  paid in  the  normal  course  of
     business.

(7)  Discontinued Operations -

     During the second quarter of 2003, the Partnership sold  the
     Children's World daycare center in Houston, Texas,  in  four
     separate  transactions,  to unrelated  third  parties.   The
     Partnership  received total net sale proceeds of $1,056,594,
     which  resulted in a net gain of $279,298.  The  total  cost
     and  related accumulated depreciation of the interests  sold
     was $892,219 and $114,923, respectively.

     During the second quarter of 2003, the Partnership sold  its
     23%   interest  in  the  Champps  Americana  restaurant   in
     Centerville,   Ohio,  in  two  separate   transactions,   to
     unrelated third parties.  The Partnership received total net
     sale proceeds of $1,314,145, which resulted in a net gain of
     $476,562.    The   total   cost  and   related   accumulated
     depreciation of the interests sold was $924,843 and $87,260,
     respectively.


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 2003
                           (Continued)

(7)  Discontinued Operations - (Continued)

     The financial results for these properties are reflected  as
     Discontinued   Operations  in  the  accompanying   financial
     statements.  The results of discontinued operations  are  as
     follows:


                                Three Months Ended       Nine Months Ended
                               9/30/03      9/30/02    9/30/03       9/30/02

Rental Income                  $     0    $ 44,801     $ 58,703     $ 133,831
Property Management Expenses         0        (637)      (1,006)       (1,030)
Depreciation                         0     (12,711)     (16,283)      (38,132)
Gain on Disposal of Real Estate      0           0      755,860             0
                                -------    --------     --------     ---------
   Income from Discontinued
     Operations                $     0    $ 31,453     $797,274     $  94,669
                                =======    ========     ========     =========


ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS.

        The Management's Discussion and Analysis contains various
"forward  looking  statements"  within  the  meaning  of  federal
securities  laws  which  represent management's  expectations  or
beliefs  concerning future events, including statements regarding
anticipated  application of cash, expected  returns  from  rental
income,  growth  in revenue, taxation levels, the sufficiency  of
cash to meet operating expenses, rates of distribution, and other
matters.  These, and other forward looking statements made by the
Partnership,  must be evaluated in the context  of  a  number  of
factors that may affect the Partnership's financial condition and
results of operations, including the following:

     Market  and  economic conditions which affect the  value
     of  the  properties the Partnership owns and  the  cash
     from rental income such properties generate;

     the  federal  income tax consequences of rental  income,
     deductions,  gain  on  sales and other  items  and  the
     affects of these consequences for the Partners;

     resolution  by  the General Partners of  conflicts  with
     which they may be confronted;

     the   success  of  the  General  Partners  of   locating
     properties with favorable risk return characteristics;

     the effect of tenant defaults; and

     the condition of the industries in which the tenants of
     properties owned by the Partnership operate.


ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

The Application of Critical Accounting Policies

        The preparation of the Partnership's financial statements
requires  management to make estimates and assumptions  that  may
affect the reported amounts of assets, liabilities, revenues  and
expenses,  and  related  disclosure  of  contingent  assets   and
liabilities. Management evaluates these estimates on  an  ongoing
basis,  including  those related to the carrying  value  of  real
estate  and  the  allocation  by AEI  Fund  Management,  Inc.  of
expenses  to  the  Partnership as opposed  to  other  funds  they
manage.

        The Partnership purchases properties and records them  in
the  financial  statements  at the lower  of  cost  or  estimated
realizable   value.   The  Partnership  initially   records   the
properties  at cost (including capitalized acquisition expenses).
The Partnership is required to periodically evaluate the carrying
value  of properties to determine whether their realizable  value
has  declined.   For  properties the Partnership  will  hold  and
operate, management determines whether impairment has occurred by
comparing the property's probability-weighted cash flows  to  its
current carrying value.  For properties held for sale, management
determines  whether  impairment has  occurred  by  comparing  the
property's estimated fair value less cost to sell to its  current
carrying  value.   If  the carrying value  is  greater  than  the
realizable  value, an impairment loss is recorded to  reduce  the
carrying value of the property to its realizable value.  A change
in  these assumptions or analysis could cause material changes in
the carrying value of the properties.

       AEI Fund Management Inc. allocates expenses to each of the
funds  they manage primarily on the basis of the number of  hours
devoted  by  their employees to each fund's affairs.   They  also
allocate  expenses at the end of each month that are not directly
related to a fund's operations based upon the number of investors
in the fund and the fund's capitalization relative to other funds
they  manage.  The Partnership reimburses these expenses  subject
to detailed limitations contained in the Partnership Agreement.

         Management   of  the  Partnership  has   discussed   the
development  and selection of the above accounting estimates  and
the management discussion and analysis disclosures regarding them
with the managing partner of the Partnership.

Results of Operations

       For the nine months ended September 30, 2003 and 2002, the
Partnership  recognized rental income from continuing  operations
of  $656,077 and $763,535, respectively.  In 2003, rental  income
decreased due to sales of five properties discussed below.   This
decrease in rental income was partially offset by additional rent
received from two property acquisitions in 2002 and 2003 and rent
increases on two properties.

       For the nine months ended September 30, 2003 and 2002, the
Partnership  incurred  Partnership administration  expenses  from
affiliated parties of $124,239 and $129,714, respectively.  These
administration  expenses  include  costs  associated   with   the
management of the properties, processing distributions, reporting
requirements and correspondence to the Limited Partners.   During
the   same   periods,   the  Partnership   incurred   Partnership
administration  and property management expenses  from  unrelated
parties  of  $39,878 and $34,645, respectively.   These  expenses
represent  direct payments to third parties for legal and  filing
fees,  direct administrative costs, outside audit and  accounting
costs, taxes, insurance and other property costs.

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

       For the nine months ended September 30, 2003 and 2002, the
Partnership  recognized interest income of $72,431  and  $11,954,
respectively.   In  2003, interest income increased  due  to  the
Partnership  receiving  interest from construction  advances  and
having  more  money  invested in a money market  account  due  to
property sales.

       For the nine months ended September 30, 2003 and 2002, the
Partnership   recognized  gain  on  sale  of  real  estate   from
continuing  operations  of $360,215 and  $325,625,  respectively,
from  the sale of five properties.  Since the Partnership retains
an  ownership interest in these properties, the operating results
and  gain  on  sale  of  the properties were  not  classified  as
discontinued operations.

        On January 1, 2002, the Partnership owned 64.4916% of the
Hollywood  Video  store  in  Saraland,  Alabama.   In  2002,  the
Partnership  sold  61.4116%  of the  property,  in  two  separate
transactions,  to  unrelated  third  parties.   The   Partnership
received total net sale proceeds of $896,350, which resulted in a
net  gain  of  $120,988.  The total cost and related  accumulated
depreciation  of  the  interests sold was $846,185  and  $70,823,
respectively.  For the nine months ended September 30, 2002,  the
net gain was $81,218.

        Through  December 31, 2002, the Partnership sold 38.0038%
of  the  Children's World in Golden, Colorado, in  five  separate
transactions,  to  unrelated  third  parties.   The   Partnership
received total net sale proceeds of $790,102, which resulted in a
net  gain  of  $164,893.  The total cost and related  accumulated
depreciation  of  the  interests sold was $638,318  and  $13,109,
respectively.  For the nine months ended September 30, 2002,  the
net gain was $-0-.

        During  2002, the Partnership sold 39.1271%  of  the  TGI
Friday's restaurant, in three separate transactions, to unrelated
third  parties.  The Partnership received total net sale proceeds
of  $789,247,  which resulted in a net gain  of  $208,061.    The
total  cost and related accumulated depreciation of the interests
sold was $653,564 and $72,378, respectively.  For the nine months
ended September 30, 2002, the net gain was $208,061.

        Through September 30, 2003, the Partnership sold 24.6846%
of  the  Children's World daycare center in Plainfield, Illinois,
in three separate transactions, to unrelated third parties.   The
Partnership  received total net sale proceeds of $450,673,  which
resulted  in a net gain of $103,162.  The total cost and  related
accumulated  depreciation of the interests sold was $363,531  and
$16,020,  respectively.  For the nine months ended September  30,
2003   and   2002,  the  net  gain  was  $53,648   and   $36,346,
respectively.

       During the first nine months of 2003, the Partnership sold
99.4123% of the Arby's restaurant, in five separate transactions,
to  unrelated third parties.  The Partnership received total  net
sale  proceeds  of $1,562,751, which resulted in a  net  gain  of
$306,567.  The total cost and related accumulated depreciation of
the interests sold was $1,384,408 and $128,224, respectively.

        In  July  2003, the lessee of the Razzoo's restaurant  in
Austin, Texas notified the Partnership that they are experiencing
financial  difficulty and may not be able to  pay  future  rents.
However,  rents  are current through November 30,  2003  and  the
Partnership   holds  a  personal  guarantee  from  the   majority
shareholder of the lessee for payment of all rents.  The personal
guarantee  expires  on June 27, 2004.  Due to this  notification,
the  Partnership is evaluating the lease and property  value  and
has  decided that it is premature to recognize an impairment loss
at  this time.  It is reasonably possible that this decision  may
change  in the future.  At September 30, 2003, the book value  of
the Razzoo's property owned by the Partnership is $1,456,781.


ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

        In  accordance  with  Statement of  Financial  Accounting
Standards  No. 144, Accounting for the Impairment or Disposal  of
Long-Lived  Assets,  upon  complete disposal  of  a  property  or
classification of a property as Real Estate Held  for  Sale,  the
Partnership  includes  the operating  results  and  sale  of  the
property   in   discontinued  operations.    In   addition,   the
Partnership reclassifies the prior periods operating results  and
any  partial  sales  of the property to discontinued  operations.
For  the  nine  months ended September 30, 2003, the  Partnership
recognized  income  from  discontinued  operations  of  $797,274,
representing rental income less property management expenses  and
depreciation  of $41,414 and gain on disposal of real  estate  of
$755,860.   For  the nine months ended September  30,  2002,  the
Partnership  recognized  income from discontinued  operations  of
$94,669,  representing  rental income  less  property  management
expenses and depreciation.

        During  the second quarter of 2003, the Partnership  sold
the  Children's World daycare center in Houston, Texas,  in  four
separate   transactions,  to  unrelated   third   parties.    The
Partnership received total net sale proceeds of $1,056,594, which
resulted  in a net gain of $279,298.  The total cost and  related
accumulated  depreciation of the interests sold was $892,219  and
$114,923, respectively.

        During  the second quarter of 2003, the Partnership  sold
its   23%  interest  in  the  Champps  Americana  restaurant   in
Centerville,  Ohio  in  two separate transactions,  to  unrelated
third  parties.  The Partnership received total net sale proceeds
of  $1,314,145,  which resulted in a net gain of  $476,562.   The
total  cost and related accumulated depreciation of the interests
sold was $924,843 and $87,260, respectively.

        Inflation  has  had  a  minimal  effect  on  income  from
operations.   Leases  may contain rent increases,  based  on  the
increase  in  the  Consumer Price Index over a specified  period,
which  will result in an increase in rental income over the  term
of  the  leases.   In addition, leases may contain  rent  clauses
which  entitle  the  Partnership to receive  additional  rent  in
future  years  if gross receipts for the property exceed  certain
specified  amounts.  Increases in sales volumes of  the  tenants,
due to inflation and real sales growth, may result in an increase
in rental income over the term of the leases.  Inflation also may
cause the real estate to appreciate in value.  However, inflation
and  changing prices may have an adverse impact on the  operating
margins  of  the  properties' tenants, which could  impair  their
ability  to  pay rent and subsequently reduce the Net  Cash  Flow
available for distributions.

Liquidity and Capital Resources

        During  the  nine months ended September  30,  2003,  the
Partnership's  cash balances increased $267,085 as  a  result  of
cash  generated  from the sale of property, which  was  partially
offset  by cash used to purchase property and distributions  paid
to  the  Partners  in  excess of cash  generated  from  operating
activities.  During the nine months ended September 30, 2002, the
Partnership's cash balances increased $1,336,686 as a  result  of
cash  generated  from the sale of property, which  was  partially
offset  by distributions paid to the Partners in excess  of  cash
generated from operating activities.

        Net  cash provided by operating activities decreased from
$746,241 in 2002 to $584,236 in 2003 as a result of a decrease in
total   rental  and  interest  income  in  2003  and  net  timing
differences  in the collection of payments from the  lessees  and
the payment of expenses.


ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

        The  major components of the Partnership's cash flow from
investing activities are investments in real estate and  proceeds
from  the  sale  of  real estate.  During the nine  months  ended
September 30, 2003 and 2002, the Partnership generated cash  flow
from  the  sale  of  real  estate of $4,153,920  and  $1,483,657,
respectively.  During the nine months ended September  30,  2003,
the Partnership expended $3,521,640, to invest in real properties
(inclusive of acquisition expenses) as the Partnership reinvested
cash generated from property sales.

        On  December  6,  2002, the Partnership purchased  a  50%
interest  in a parcel of land in West Chester, Ohio for $476,913,
including acquisition expenses. The Partnership obtained title to
the  land in the form of an undivided fee simple interest in  the
50%  interest purchased.  The land is leased to Champps Operating
Corporation (Champps) under a Lease Agreement with a primary term
of   20   years   and   annual  rental   payments   of   $50,600.
Simultaneously  with  the purchase of the land,  the  Partnership
entered  into a Development Financing Agreement under  which  the
Partnership will advance funds to Champps for the construction of
a  Champps  Americana  restaurant on the site.  Pursuant  to  the
Lease, any improvements to the land during the term of the  Lease
become  the property of the lessor.  Through September 30,  2003,
the Partnership had advanced $889,670 for the construction of the
property and was charging interest on the advances at a  rate  of
10.0%.   The  Partnership's share of the  total  purchase  price,
including the cost of the land, will be approximately $1,750,000.
After  the construction is complete, the Lease Agreement will  be
amended  to  require  annual  rental  payments  of  approximately
$175,000.    The remaining interest in the property is  owned  by
AEI  Net Lease Income and Growth Fund XX Limited Partnership,  an
affiliate of the Partnership.

        On  August 27, 2003, the Company purchased a 32% interest
in   a  Garden  Ridge  retail  store  in  Woodlands,  Texas   for
$2,631,968.   The property is leased to Cypress/GR  Woodlands  I,
L.P. under a Lease Agreement with a primary term of 20 years  and
annual  rental payments of $301,611.  The remaining interests  in
the property were purchased by AEI Real Estate Fund XVIII Limited
Partnership, AEI Income & Growth Fund 24 LLC and AEI Real  Estate
Fund XV Limited Partnership, affiliates of the Partnership.

         In  November  2003,  the  Partnership  entered  into  an
Agreement  to  purchase  a  50%  interest  in  a  Tia's   Tex-Mex
restaurant  in Killeen, Texas for approximately $1,035,000.   The
property will be leased to Tia's Texas - Alamo LLC under a  Lease
Agreement  with  a  primary term of 15 years  and  annual  rental
payments  of  approximately $105,570.  The remaining interest  in
the   property  will  be  purchased  by  AEI  Private  Net  Lease
Millennium  Fund  Limited  Partnership,  an  affiliate   of   the
Partnership.

        The  Partnership's primary use of cash flow,  other  than
investment   in  real  estate,  is  distribution  and  redemption
payments  to  Partners.   The Partnership  declares  its  regular
quarterly distributions before the end of each quarter  and  pays
the  distribution in the first ten days after  the  end  of  each
quarter.    The  Partnership  attempts  to  maintain   a   stable
distribution  rate from quarter to quarter.  Redemption  payments
are paid to redeeming Partners on a semi-annual basis.

       For the nine months ended September 30, 2003 and 2002, the
Partnership  declared  distributions of  $864,577  and  $884,258,
respectively.     Pursuant   to   the   Partnership    Agreement,
distributions of Net Cash Flow were allocated 97% to the  Limited
Partners  and 3% to the General Partners.  Distributions  of  Net
Proceeds  of Sale were allocated 99% to the Limited Partners  and
1%  to  the  General  Partners.  The  Limited  Partners  received
distributions  of $845,306 and $860,357 and the General  Partners
received  distributions of $19,271 and $23,901 for  the  periods,
respectively.

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

        During  the  first  nine months of  2003  and  2002,  the
Partnership  distributed  $333,333  and  $131,313  of  net   sale
proceeds  to  the Limited and General Partners as part  of  their
regular  quarterly distributions which represented  a  return  of
capital  of  $20.08  and  $7.86  per  Limited  Partnership  Unit,
respectively.   The remaining net sale proceeds  will  either  be
reinvested in additional property or distributed to the  Partners
in the future.

        The  Partnership may acquire Units from Limited  Partners
who have tendered their Units to the Partnership.  Such Units may
be acquired at a discount.  The Partnership will not be obligated
to purchase in any year any number of Units that, when aggregated
with  all  other transfers of Units that have occurred since  the
beginning   of  the  same  calendar  year  (excluding   Permitted
Transfers as defined in the Partnership Agreement), would  exceed
5%  of the total number of Units outstanding on January 1 of such
year.  In no event shall the Partnership be obligated to purchase
Units if, in the sole discretion of the Managing General Partner,
such  purchase  would  impair the capital  or  operation  of  the
Partnership.

       On October 1, 2003, five Limited Partners redeemed a total
of  88.1  Partnership Units for $67,361, in accordance  with  the
Partnership  Agreement.  On April 1, 2003, five Limited  Partners
redeemed  a  total of 102.29 Partnership Units for $76,601.   The
Partnership  acquired  these  Units  using  Net  Cash  Flow  from
operations.  In prior years, 23 Limited Partners redeemed a total
of  400.93  Partnership  Units  for  $306,536.   The  redemptions
increase  the remaining Limited Partner's ownership  interest  in
the Partnership.

       The continuing rent payments from the properties, together
with  cash  generated from property sales, should be adequate  to
fund   continuing   distributions  and  meet  other   Partnership
obligations on both a short-term and long-term basis.

ITEM 3.   CONTROLS AND PROCEDURES.

       (a) Evaluation of disclosure controls and procedures

        Under  the  supervision  and with  the  participation  of
management, including its President and Chief Financial  Officer,
the  Managing  General Partner of the Partnership  evaluated  the
effectiveness  of  the  design and operation  of  its  disclosure
controls  and procedures (as defined in Rule 13a-14(c) under  the
Exchange  Act).   Based upon that evaluation, the  President  and
Chief Financial Officer of the Managing General Partner concluded
that,  as  of  the end of the period covered by this report,  the
disclosure  controls  and  procedures  of  the  Partnership   are
adequately  designed to ensure that information  required  to  be
disclosed  by  us  in  the reports we file or  submit  under  the
Exchange  Act  is recorded, processed, summarized  and  reported,
within the time periods specified in applicable rules and forms.

       (b)  Changes in internal controls

         There   were   no  significant  changes  made   in   the
Partnership's  internal controls during the  most  recent  period
covered  by  this  report that have materially affected,  or  are
reasonably   likely  to  materially  affect,  the   Partnership's
internal control over financial reporting.



                   PART II - OTHER INFORMATION

ITEM 1.LEGAL PROCEEDINGS

       There  are no material pending legal proceedings to  which
  the  Partnership  is  a  party or of  which  the  Partnership's
  property is subject.

ITEM 2.CHANGES IN SECURITIES

      None.

ITEM 3.DEFAULTS UPON SENIOR SECURITIES

      None.

ITEM 4.SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

      None.

ITEM 5.OTHER INFORMATION

      None.

ITEM 6.EXHIBITS AND REPORTS ON FORM 8-K

       a. Exhibits -
                             Description

    10.1  Assignment  of Purchase Agreement dated August  19,  2003
          between  the  Partnership  and AEI Fund  Management, Inc.
          relating to the Property at 16778 I-45 South,  Woodlands,
          Texas (incorporated by reference to Exhibit 10.1 of Form
          8-K filed on September 6, 2003).

    10.2  Assignment  of Lease, Indemnity and Assumption  Agreement
          dated August 27, 2003 between the Partnership,  AEI  Real
          Estate  Fund  XVIII   Limited  Partnership, AEI Income  &
          Growth  Fund  24  LLC,  AEI Real Estate Fund  XV  Limited
          Partnership and Cypress/GR  Woodlands I, L.P. relating to
          the  Property  at 16778   I-45   South,  Woodlands, Texas
          (incorporated   by reference  to Exhibit 10.2 of Form 8-K
          filed on September 6, 2003).

    10.3  Assignment of Purchase Agreement dated November 12,  2003
          between  the Partnership and AEI  Fund  Management,  Inc.
          relating   to   the  Property  at 2901 E.  Central  Texas
          Expressway, Killeen, Texas.

    31.1  Certification  of  Chief  Executive  Officer  of  General
          Partner pursuant to Rule 15d-14(a)(17 CFR 240.15d-14(a))
          and Section 302 of the Sarbanes-Oxley Act of 2002.

    31.2  Certification  of  Chief  Financial  Officer  of  General
          Partner pursuant to Rule 15d-14(a)(17 CFR 240.15d-14(a))
          and Section 302 of the Sarbanes-Oxley Act of 2002.

    32    Certification  of  Chief  Executive  Officer  and  Chief
          Financial  Officer  of   General   Partner  pursuant  to
          Section 906 of the Sarbanes-Oxley Act of 2002.

       b. Reports filed on Form 8-K - During  the   quarter  ended
                                      September   30,  2003,   the
                                      Partnership filed a Form 8-K
                                      dated September  6,    2003,
                                      reporting the acquisition of
                                      a Garden  Ridge retail store
                                      in  Woodlands, Texas.





                           SIGNATURES

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


Dated:  November 11, 2003     AEI Income & Growth Fund XXII
                              Limited Partnership
                              By:  AEI Fund Management XXI, Inc.
                              Its: Managing General Partner



                              By: /s/ Robert P Johnson
                                      Robert P. Johnson
                                      President
                                      (Principal Executive Officer)



                              By: /s/ Patrick W Keene
                                      Patrick W. Keene
                                      Chief Financial Officer
                                      (Principal Accounting Officer)