Depends on how highly ranked the schools is. A Harvard degree is portable anywhere. A south texas college of law degreee leaves you in Houston for at least several years after graduation.
I would divide schools into local (city they are located in only), regional (whole state, plus some surrounding states), and national.
Generally speaking, the top 14 schools are national, the top 30 are widely regional, schools ranked 30-50 are reginal with a slightly smaller area. Schools ranked 50-100 are good mostly for the city (if it is large) or state (if it is a smaller one) Schools ranked below 100 are generally local.
There are of course exceptions to this. You could end up in NYC from south texas, just dont count on it.