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It really depends on where/who you are at whatever point in your life and if you can make that adjustment.
I knew a girl, who grew up in the suburbs in Seattle went to LA/Riverside, Ca to Baltimore, MD to Chicago IL... basically living the "exciting" life. Then unfortunately she lost her child in the 6th month of pregnancy and decided that she just wanted to be close to her family, instead of just hopping around goofing. She started living in a town with around 1200 people. There's only one gas station and a grocery store... but no restaurants or anything like that. She did joined college which was about 40 miles away. I remember asking her... What was it like? (I mean, the closest big city was Fargo... that's not really big at all.) She said the first 6 months, she was so incredibly bored. Then after that she started to realize little things and really started to enjoy her life. She now won't move from that life. And weirdly enough... she does have a more interesting life now than she did when she was living in the big cities.
Depends on the person and stage of life really. I like being in the big city and getting away, others like being in the small town and visiting the big city. Neither are inherently wrong choices. Your career also plays a role, what I am interested in is fairly niche and only takes place in a few cities (at least the lions share) so... I need to be there to do what I want to do, otherwise I would be working some office job I hated forever.
Small town: Generally friendlier people than in a city, if you like cultural activities then you might go lacking, little other entertainment, 'little' traffic to speak of, depending on the size of the town- 'everyone knows everyone' (could be good or bad depending), few choice of restaurants, generally cheaper real estate than the city, little diversity, few retail choices, medical choices could be limited.
Large city - Some people may be friendly but definitely less friendly than small towns, usually more cultural opportunities generally abound, traffic can be heavy especially on freeways, sense of community greatly diminished, plenty of restaurants, real estate may be expensive, lots of people from everywhere, nice malls and retail establishments, great medical care available, suburbia could sprawl everywhere or an urban city might be a 'concrete jungle'.
I live in small town now and absolutly hate it. It's extremely boring. I love lots of noise and crazy things going on and it doesn't help that people's attitudes here suck.
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