Is it profitable to buy a rental property in upper class area?

[Jasraj Singh]

I was looking for investing and I recently read an article about investing in real estate and in that article it was written that in upper class area's of the town where the price range of the properties are $140,000-$150,000, no one rents there and there are almost no rental properties because everyone is owner. And there was also written that in an area where there are cheap properties ( $70,000-$90,000) it is easier to rent there because it is almost completely a renter-city.  So I'm wondering is it profitable to buy, rehab and rent a property in an upper class area?