All things considered, gpa, letters, applying early, etc.; I think your status certainly carries some weight but metrics are the most important factors as far as first impressions go, however, if you and another student were the same on paper but they were from Manhattan or San Diego and you being from a low socioeconomic background, I think you would have the one up on them. I also do not think you could apply right now with the deadline nearing and think you are going to walk right in because of your background, but that is just an opinion based on nothing much.