Yes, IMO that's an issue with the small 2 strokes, or actually two issues, exhaust and intake.
I have tried many things but with less than satisfactory results thus far. A power pipe with silencer does help but there's still a lot of noise, upwards of 85 dBs on a meter, and they are expensive, more than you paid for the engine.
I've stifled down the exhaust note with can mufflers to the point of affecting performance. Then, when you get the exhaust quiet enough you realize half the scream comes from the intake side.
Frankly, a half baked solution that's cheap and helps to knock down some of the noise is adding 12" or so of hose with a worn clamp to the existing exhaust nipple. I was using silicon but found common, black, heater hose at the hardware holds up pretty well. When the end gets fried just nip off a 1/2" and re-attach. It helps at idle and low rpms, so maybe it'd help a little till you get past those neighbors but doesn't do much at higher speeds.