There are many ideas of what makes up the perfect home and perfect neighborhood. There is no right or wrong answer but there are definitely tradeoffs that need to be made based on your desired living situation.
62% of millennials and 55% of the silent generation (those born 1925 - 1945) would rather live in an area that is walkable and an area that offers a shorter commute to work. This means they are willing to give up living in a detached single-family home or maybe even continue to rent. They essentially pay more for the location versus the size of the home.
55% of gen x-ers and baby boomers have more desire to live in a larger home, take a longer commute and do not mind driving to amenities. These neighborhoods tend to be quieter and lined with predominantly homes rather than businesses.
Having children makes the biggest difference as to whether or not a family chooses to live in a walkable community versus a more suburban living. 60% of people with school-age children prefer a large home (most likely detached single-family) with a yard. In general, 53% of people would prefer to live in areas where the homes have smaller yards but are in walkable areas.
Overall, if you choose to live in a walkable neighborhood, plan on having little to no yard, and a smaller home. If you choose to live away from businesses and a neighborhood that is not walkable, you can choose to have a larger home and yard.