Yes, I think it depends very much on where one is in life. If you’re young and single/childless (or married and childless), the city is the place to be. It’s fun to be able to walk to any number of bars or coffee shops, and not have to worry about driving home, etc. If you live in an apartment, condo, or smaller home, there is less maintenance, etc. I also think this is a great situation for older couples whose kids have moved away, as they can reclaim their own lives and become more socially active again.
Kids change your life. There is no other way to put it. They require a lot more room than adults (both lot and house, IMHO), and most parents want to live in a safer, calmer area with good schools. This means they are more likely to prefer the suburbs over city life.
It really depends on each person’s personality and family/living situation, IMHO.