According to the Theory of Risky Places (TRP), risk levels of crime could and should be computed at places according to the interaction effects of known locational features. Risky places are particular portions of space that have been assessed for their likelihood of experiencing crimes and to which a relative risk score has been attributed. According to the TRP, risky places are a product of the combined effects of vulnerabilities and exposures to crime.
Vulnerability comes from the presence of a combination of spatial influences of features of a landscape that enhance the likelihood of crime. This is articulated through Risk Terrain Modeling (RTM). Exposures refer to the historical facts and collective memories people have about places and the events that occurred there, such as knowledge about crime hot spots. A vulnerability-exposure analytical framework considers the integration of RTM and measures of exposures to crime, such as kernel density estimated hot spots. This provides a basis for analyzing the system processes of spatial influence whereby crimes emerge, persist or disappear. The combined effects of vulnerability and exposure lead to the identification of risky places.
For more on this, see Chapter 5 in "Risk Terrain Modeling: Crime Prediction and Risk Reduction" by Caplan & Kennedy (2016; Univ. of CA Press).