A location based value would never work. If people could choose to live in a more developed area for no cost at all, they will most certainly move there, increa

A location based value would never work. If people could choose to live in a more developed area for no cost at all, they will most certainly move there, increasing the demand for goods there and thus increasing the cost of life there which would result in a snowball effect. A "low-income slum" is not a problem so long as people can live decently. It's "universal" so everyone receives it, what differentiates people in low-income areas will be that they inherited no capital and have no means of acquiring capital which is a problem that already do exist, so I don't really see your point.