Yes, absolutely. There are a large number of well-respected schools ranked between 20-50 (OK 30 of them) -- But institutional rigor is a consideration and doing well at an unranked or low-rank school is not going to look as good as doing well from a well-respected school. Of course, it's better than NOT doing well...
Bottom line for undergrad, pick the best school you can succeed at that won't leave you crippled by debt. If finances are really tight, try two years at a CC, transfer to a public 4-year and plan on a gap year so you'll have two full-strength 4-year college years under your belt when you apply.