yeah..it is, but it is usually used when moms praise their kids. it might be the counterpart of "that's a good boy". in other cases, as hailey mentioned, it could be used when somebody feels very happy or content with something like reasonable prices, good shapes of ladies, but it's not common also barely used.

It's also used for cheap price, a girl's nice figure. 가격이 착해요. 몸매가 착해요.