We’re in the same boat as @traveler98. My NMF-level kid will be attending U of New Mexico on a full ride scholarship. Once he knew he’d make NMF, he took himself off the stress merry-go-round, only did the ECs he truly loved, didn’t retake his 1490 SAT, took classes because he wanted to, not because he had to take it because it was weighted, etc. That left him with a stats profile that would have been good enough for something like admission plus merit at Tulane, but probably not enough for Ivies.
UNM has an excellent honors program, it has his somewhat unusual major and it has a well-regarded hidden gem of a medical school. In addition, he loved the school. It was far and away his favorite once we started our visits. For us, that’s a perfect package.
But that’s not what you asked…
I did my undergrad at Super Podunk Directional. I was a driven student who did research as an undergrad back when it was unheard of, developed strong relationships with mentors, had peers at my same intellectual level, etc. I was admitted to the #2 grad school in my discipline. The #1 would have been U Chicago, but I didn’t apply because winter. When I got to my grad school, 90% of my cohort were from Ivies and top LACs. I felt seriously outclassed - for all of two weeks.
Turns out I was just as well prepared as any of them, and better than many. Preparation-wise, I’d say I was in the top 25%.
Fit, programs, honors college - if those are good at the safety, go and don’t look back.
Yeah, there are probably exceptions. If your kid is gunning for Wall Street, go for the brand name - but that’s not most kids.
If you can afford the reach school without blinking, more power to you. Choose whatever looks best and enjoy. But don’t be afraid of a safety just because it’s lower ranked on USNWR.