LTE is in the 4G spectrum, and is consequently 4G not 5G. You seem to be confusing bandwidth with frequency spectrum. The latter is what determines whether something is 5G or not. A 5G signal will be far above 1600mhz bandwidth or 1600mhz frequency (I don't know which one you meant but either).
>Lastly the cost of putting up a tower to service 1000 households vs running individual cables to each of them is dramatically cheaper.
I can't explain why that's wrong without writing way more than I want to, but if you're interested in the issues with 5G here are some reports. The short version is you can't service 1000 households with 1 tower without connecting each household to the tower. Maintenance will capex destroy this business model. People have been trying it at least 13 years ago. In particular the Kerrisdale short thesis (which has hilariously backfired in light of 5G "hype") can address some of the economic issues:
https://techneconomyblog.com/2016/12/31/5g-economics-an-introduction-chapter-1/
https://www.amazon.ca/5G-Myth-vision-decoupled-reality/dp/1540465810 (full book is on amazon)
https://www.kerrisdalecap.com/wp-content/uploads/2017/01/Straight-Path-Communications-STRP.pdf