Yes, there are many built-in groups for targeting emails based on location. Note that these may not all be available if you do not have the Advocacy module, if that is the case please refer to this solution for other options.

When configuring the target audience for an email delivery, you will be given the option to choose a group type. The following group types contain useful groups for location-based targeting:
  1. Congressional Districts - Each group in this group type corresponds to a particular congressional district.
  2. County Residents - There will be a group under this group type for each county  where at least one constituent resides.
  3. Municipality Residents - There will be a group under this group type for each city/municipality  where at least one constituent resides.
  4. State House Districts - Each group in this group type corresponds to a particular state house district.
  5. State Residents - There is a group under this group type for each state/province where at least one constituent resides.
  6. State Senate Districts - Each group in this group type corresponds to a particular state senate district.
To view these groups outside of the email module, go to Constituent 360 > Groups and then click on the plus sign next to "All Groups" on the left sidebar. This will show you all of the group types available (both built-in and admin-defined) to browse groups, click on one of the group types above to view all of those particular groups.