Romeo certainly is a character with high social standing. We know he has high social standing because his father is a Lord, which is a noble title. In fact, Shakespeare makes a point in his opening prologue of describing the two feuding families as being "[t]wo households, both alike in dignity," and the word dignity can be translated as "rank" or "station" (Prologue.1; Random House Dictionary"). While a Lord, or the only son of a Lord who will inherit the title, is not the highest social position, like a prince or king, a Lord is certainly a leader of society. Therefore, Romeo's standing as the only son of a Lord certainly does give him a high enough social position to fit the definition of a tragic hero.