Zip code 49220, encompassing Manitou Beach-Devils Lake in Michigan, contains 20 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program. Of these, 2 units are specifically designated as low-income. The LIHTC-funded affordable housing represents 1.92% of the estimated 1,043 housing units in the zip code. The LIHTC program has invested $77,415 in tax credits for affordable housing projects in this zip code, averaging $3,871 per unit. This investment constitutes 0.03% of Michigan's total LIHTC funding allocation.

The sole LIHTC-funded project in zip code 49220 is "The Crossings," completed in 2008. This development initiated LIHTC-supported affordable housing in the area, providing housing accessibility for over a decade. The Crossings comprises 20 total units, including 8 one-bedroom and 12 two-bedroom apartments. This unit mix indicates a focus on accommodating small families and individuals. The project does not target a specific population, suggesting it may serve a diverse range of residents.

Zip code 49220 has experienced demographic changes over the past decade. The population decreased slightly from 2,814 in 2019 to 2,722 in 2022. Despite this minor decline, the median income showed an overall upward trend, increasing from $61,492 in 2019 to $61,699 in 2022, with a peak of $72,341 in 2021. The racial composition has remained relatively stable, with the white population consistently representing 96-97% of residents. A slight increase in diversity occurred, with the Hispanic population growing from 1% to 2% between 2019 and 2022, and the emergence of a small Asian population (1%) in 2022.