I've been lucky enough to spend the last ten years of my life in walkable neighborhoods, and yes, they're pretty glorious. People get to know you and your pets, and they watch out for your place when you're not there, and you do the same for them.
The sense of community is palpable, and when your brain is broken like mine, it's nice when people are kind to you.
I love these "shared" cats in our neighborhood. Go home pet friendly cat, chat with neighbour about cat being fat because other neighbors feed it (it is SIC so there is more of similar cats)...