Zip code 49740 in Harbor Springs, Michigan, covers 123.89 square miles and contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 32 units, with 24 designated as low-income units. Based on the 2022 population of 7,541 and the national average household size of 2.61, the estimated number of housing units in this zip code is 2,889. The LIHTC-funded affordable housing represents approximately 1.11% of the estimated housing inventory in zip code 49740.

The LIHTC project in zip code 49740 received $390,471 in tax credits, averaging $12,202 per unit. This funding constitutes 0.13% of Michigan's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing investment in this area. The project, named "Village Of Hillside, The," was completed in 2016 and has been providing affordable housing options for about seven years. It consists of 24 one-bedroom units and 8 two-bedroom units, accommodating various household sizes within the low-income community.

The population in zip code 49740 has shown slight fluctuations over the past decade, increasing from 7,149 in 2014 to 7,541 in 2022. The median income has also varied, rising from $61,955 in 2014 to $62,793 in 2022, with a peak of $73,733 in 2021. The racial composition of the zip code has remained relatively stable, with a predominant white population. However, there has been a small increase in diversity, with the white population decreasing from 93% in 2014 to 90% in 2022. The Hispanic population grew from 1% to 2%, and those identifying as two or more races increased from 2% to 4% during this period.