If the houses (or even balconies) are lovingly and individually decorated that means some happy people live here. Their income doesn’t matter. Very often I see rows of very expencive houses and none of them looks like a home.
You can’t fake this.
If I had a choise I would live in an area where everybody uses the color of their choise and decorates in a manner one likes. It is good to be surrounded by happy people.
I can’t quite see the future where everybody rents a standartized futuristic living space and don’t change it in accordance to one’s taste. It is not necessary about privat property but about the sense of belonging.