I agree with the statement above. The problem is an overall "Threat Level" consists of a number of factors and yet most people conflate them all into one-risk frequency (odds it will occur).
Typically when evaluating and mitigating risk you primarily evaluate the risk severity and risk frequency resulting in an initial overall risk level. Then, apply mitigating factors (as needed) to reduce your overall risk exposure from the baseline to something acceptable.
So, living in a "nice" neighborhood only lowers the frequency, but not the severity. The severity of a home invasion or robbery is the same no matter the neighborhood. So, to say for example "I only need a 5 shot snub because I live in a nice neighborhood" is not accurate. The criminals aren't nicer or a lower threat if you encounter one...it is just the odds of that encounter are lower.
An example of the whole process would look like this: Let's use home invasion where the baseline is being un-prepared and in a bad neighborhood. The severity is extreme, if it happens it is very bad, potential for serious injury and death. The frequency is still low. The combined risk level for extreme severity, but low frequency makes it a high overall risk.
So, to address the "low" frequency, we could move to a better location making the frequency go from "low" (can expect it to happen at some point in lifespan) to "unlikely" (can expect it won't happen in lifespan). You can also harden the home and adopt other security measures lowering the chances they'll get in the home even more. To address the "severity" you could have a dog and alarm for early warning, a safe room, body armor, a high cap weapon, light, and training, same for spouse etc. (any combination of these and more that are doable for you) These all lower your risk of death or severe injure should they get inside from the baseline of "nothing." Applying all of these mitigating factors would result in an overall "low" or "negligible" residual risk level from home invasion from our baseline ("High") of the unprepared person starting out in a bad neighborhood.