I don't live in a "ghetto", yet still had bikes stolen. Thieves do scout out the better areas of town, you know?
yea posh areas are easy targets to many people think no one will ever rob your shed or garden then you wake up and all your power tools and bikes are gone.
TBH if you smeared a 99p lock and chain in dog poop it would probably be more of a deterrent than an expensive lock