1st ring suburbs in many cities are very pricey. While the houses are older, they were better built, so they can withstand more neglect than houses built, say, after 1975.
Also they are closer to the center of town so easier commute for those who work there.
1st ring suburbs in places like LA, Seattle, Washington DC, and countless others are high priced now, even for fixer uppers.
There is also the Edge City phenomenon. I was a kid when Tyson’s Corner Mall opened up in the ‘burbs outside DC in Northern Virginia. Now there are many high rise office buildings in the area.
You have the same phenomenon with Atlanta and the Galleria and Perimeter Mall areas, in particular.
The nice ‘burbs close to the Edge Cities are very much holding their values.