Yes, sometimes it's nice to read about people whose superpowers or magic or amazing fighting skills or whatever don't have any application to their real-life problems, and who maintain a normal life in addition to their heroic deeds. (Of course, it can also be nice to read about people who don't have those problems, and imagine yourself into that position, but it's not relatable in the same way.)

I think that in comparison to everyone else in the trilogy, the hobbits are definitely in a lower social class -- the Shire is a very prosaic and everyday sort of country, with neither royalty nor knights -- but within their own culture, Pippin and Merry are landed nobility (they end up as Thain and Master of Buckland, respectively) and Frodo is their rich cousin, though he doesn't have a title himself. I guess he'd be gentry, if we're using British social equivalents. And even Sam ends up as de facto gentry, though he starts as solidly working class as it's possible to get.