Undervalued because of being in shitty high crime areas that reflection of the culture of the people that live there?
This type of study is meaningless. It is like when you find a house on Zillow that is many thousands of dollars under its “zestimate”. Typically, they are complete pigsties that need a lot of cleanup and repair, or as you say they are in a high crime neighborhood. In the town where we live the values in the north side of town are twice what they are in the south side of town for similar square footage and lot size. This discrepancy keeps growing. Who wants to live near a bunch of low income apartments or deadbeats in rental houses, not to mention the thugs and drug dealers?