In this part of town, there are many people who are considered to have high social status.
They look for things of high quality, and can judge things rather severely, but many of them have good manners and education.
ご質問ありがとうございます。
"In this part of town"＝「この地域では」
"there are many people"=「多くの人がいる」
"who are considered to have high social status."＝「社会的に地位が高い、とみなされている人達が。」
"They look for things of high quality"＝「彼女・彼らたちは質の高いものを求める」
"and can judge things rather severely"＝「そして物事をやや厳しく判断することもある」
"but many of them have good manners and education."=「でも多くの人々はマナーが良く、教養もあります。」
ご参考に！
アメリカ合衆国 
