Yes, Minneapolis is a correct counterexample. What matters most for house prices in the Twin Cities is nearness to lakes. North Minneapolis has few lakes, the highest crime rate in the city (with a murder rate far higher than, for example, New York City), and blighted public schools. Southwest Minneapolis (same municipal government and same public school district) is a desirable neighborhood near lakes with a lot of high-income residents and a high school that is a feeder school to the Ivy League.