I'm black for the record.
Generally, when people say bad neighborhood they are referring to black or hispanic neighborhoods. This is generally because black and hispanic people generally comprise more of the lower socioeconomic classes, thus, more crime, thus worse areas. People try to play it off like no, but in reality yes it is, and until people are willing to admit it, nothing will be done.
So yes, people are generally referring to black/spanish neighborhoods when they refer to ghettos and all, and the white equivalent would be something like a stereotypical trailer park. Sad but true.