I think most of my local status, such as it is, comes from being generally amiable and having helped out at least half the people on the street with repair/lifting/moving tasks at some point.
Also I suppose living in a desirable neighborhood indicates status to outsiders maybe? I'm not sure what, if any, benefits that perception confers on me.
I may be a little broken in that I don't see the value of status signalling. If I'm nice to people, they're nice to me. That system has suited me increasingly well for decades. I dress for practical comfort, don't have high-ranking frequent flyer membership tier, and routinely get upgrades at the airport because I am sympathetic to the agents' pressures. People recommend me for jobs because I didn't make them feel shitty at work and make a point of boosting other people's contributions.
Between that, and trying to signal something with expensive sneakers or a sports car, I much prefer the approach that makes me feel happy inside, and builds people up rather than trying to make them jealous.