New York City, the perennial muse of the American dream, has inspired yet another paean, the musical “In the Heights,” now playing at the Boston Opera House through January 24th. “In the Heights” is reminiscent of other musicals about New York, resembling a cross between “Rent” and “West Side Story.” It takes a cross-sectional look at the intersecting lives of Latino immigrants and their children living in Washington Heights, aspiring to that most nebulous and elusive of entities: the American dream.

The adult characters of “In the Heights” came to New York with the desire to make life better for their children. Undaunted exuberance and strength in the face of disaster are the name of the game as the play reaffirms American confidence and belief in success and social mobility in the face of crushing poverty, despite the nation’s current bleak economic situation.

Even though the American dream is now generations old, “In the Heights” is emphatically contemporary. The musical genre is ostensibly hip-hop, but utilizes a variety of genres. The central character, Usnavi (Kyle Beltran), generally raps his longer monologues and soliloquies, and the cast dances to hip-hop, salsa, and whatever else suits the musical mood. At times there are touches of Paul Simon in the music, and in the dancing, moments of ballet.

There is also a fair amount of urban angst, represented by the dancing of Graffiti Pete (Jose-Luis Lopez), who does not appear often enough considering his talent. The stage itself seems almost too small to contain the enthusiasm of the characters and the excellent choreography by Andy Blankenbuehler. The movements of the ensemble cast, even the most minor characters, are carefully orchestrated.

It is this precision and attention given to every detail that makes each moment purposeful and meaningful in the production. These details give “In the Heights” a sense of being a living city, complete with the innumerable intersecting lives and storylines of the actual New York.

Every story in the neighborhood of “In the Heights” is connected, but the plot focuses particularly on the lives of Usnavi and Nina (Arielle Jacobs). These two characters represent the hopes of the next generation. Success is defined as winning the lottery or graduating from Stanford, two things which are actually not as wildly different as they appear.

Usnavi, who owns a corner store that sells lottery tickets, hands out his own form of hope to the inhabitants of the Heights every day. Beltran himself is tall and skinny, and can contort his dancer’s body into a perfect gangly imitation of a typical class clown. When he dances, his lanky frame whips gracefully through the throngs of dancers with intense energy and verve.

Nina, the sweet and modest neighborhood prodigy, won a scholarship to Stanford. Yet Nina is torn between the many stresses of her school environment, exacerbated by the hope that her parents and the rest of the neighborhood have in her. The contrast between Beltran’s joie de vivre and Jacobs’ defeated posture when she sings by herself in the spotlight is particularly striking.

Though the individuals of the show are captivating by themselves, it is their place among the rest of the community that gives “In the Heights” its depth.  The show’s competing voices blend beautifully into a wonderful and exciting production.