The Wrap says the film takes place in the quiet town of Suburbicon, where "the best and worst of humanity is hilariously reflected through the deeds of seemingly ordinary people." When a home invasion occurs a seemingly perfect family resorts to blackmail, revenge and betrayal.
So it sounds like they're aiming for a suburban satire, which can be a tough tone to nail, but if anyone can do it the Coens and Clooney can.