This sounds like a great model to try out in newly-built, 'experimental' communities. Retrofitting existing ones would require more cooperation among residents than you could achieve, I think, except in unusual situations.

I am sure there are large numbers of lower income people who would be willing to try something other than a crappy apartment in a bad neighborhood if the per-month costs were similar. You'd need to deal with transportation issues (i.e. better buses, shared small electric vehicles or bikes, etcetera) and some other things, but it could be a promising method to explore.

Some people might even be willing to try things like a https://en.wikipedia.org/wiki/Urine-diverting_dry_toilet (incinerating toilets may be needed instead depending on the area) or agree to lower electricity usage for a reduction in monthly fees, among other things. I've been thinking about this idea for a number of years, and am somewhat surprised we haven't seen efforts toward it yet. Maybe I should do something.