The most underrated type of privilege is location privilege. If you grow up far away from a major city, you have to invest heavily to break-in. One false move and everything you worked to establish gets wiped away.
People growing up in Omaha are at a severe disadvantage vs people who grow up in Mountainview.
And if your parents are in Mountain View or nearby, you can stay with them a few extra years after you get your first job to save money for a downpayment on your own house.
A person without that option may spend a decade paying rent and trying desperately to save up enough for a down payment.
I distinctly remember moving to Silicon Valley as a developer from out of country. Realizing that the standard of living bump due to my 2x Salary, was actually a standard of living drop.
Then looking around at the company, seeing the IT support guy with the brand new Porsche. Wondering if he 'struck it rich' with a previous .com and finding out it's just because he lives at home still.
People growing up in Alliance, Nebraska, are at a severe disadvantage vs Omaha. Almost everyone in Nebraska lives within 50 miles of Omaha (1.3M of 1.9M people).
People growing up in Omaha are at a severe disadvantage vs people who grow up in Mountainview.