It appears to have drawbacks:
In research just published in the Journal of Child Psychology and Psychiatry, they uncovered a surprising result among children in the U.K.: Low-income boys who grow up around wealthier peers have more behavior problems like lying, cheating and fighting than their counterparts who grow up immersed in poverty. That result implies that there may be unintended negative consequences to efforts at creating the kinds of communities where poor and better-off families live side by side.
One theory on why this is:
Something called the “relative position hypothesis” may help explain the findings, [Duke’s Candice] Odgers said. Previous studies have suggested that children often evaluate their social rank and self-worth based on comparisons with those around them. Simply put, being poor may be more distressing to a child when he is surrounded by others who are better off.