I didn't think of it as racist but I saw the MTV documentary about white privilege and a girl cried because she said the word ghetto had been used as a racist term around her
If it's used as a noun to describe an area where people live, then no in most cases.
Eg: "That area is the ghetto."
If it's used as an adjective to describe a black person's aesthetic or the way they talk, then yes, as the word is usually used with negative/derogatory meaning.
Eg: "Omg did you see what she wore? This isn't that type of community. God, she's so ghetto..."