What good is wealth if you are living in a boring old town with nothing to do? Also this would obviously not be true if you have a family because kids are a money sink.
Some people like boring towns and what you consider things to do may not be of interest to others.
For example I have many friends in large metropolitan areas whose lives revolve around eating and going out. On the other hand I much prefer going on hikes to going out to dinner and bars. Also if I want a more cultured experience I have enough money to hop on a plane and go anywhere I want. Overall the smaller town with the lower cost of living works very well for me.
Fellow "boring old town" member here. I wouldn't have it any other way.
Far away from me are the trivialities and concerns of concrete monoliths. I much prefer being able to walk outside on my own, and see open fields and forests where ever I turn.
Maybe I'm not an exception, but there are more than a few people who don't need much in life. A wood cabin in the mountains with 802.11 and solar power is all I need.
There are many perks to living outside of the city. You can have twice the house for 1/3 the cost. It's much quieter. There are hobbies and activities that are only available outside of the city. Of course, if you are single, it's a terrible idea, but for married people or those in committed relationships, there are a lot of pluses to consider.
As an example, a friend lives in a 5 bed, 4 bath house and hour and a half out of the city. He has a woodshop, a workshop, fire pit, fireplace, man cave, 4 car garage, loves dirt biking, off-roading, cycling, fishing, flying his racing drone,and can play his drums as loud as he wants. He is also only an hour and a half from the city if he wants to go in for the day or weekend. He would be in a 2 bed, 1.5 bath condo if he lived in the city and wouldn't be able to do any of his hobbies; maybe the cycling.
In my boring little town, a tourism town, we have a high-ranked ski hill within 40min of city centre, other options including heliskiing with a couple hours, world-class golf (and spa) with 20min of city centre and several other equally great ones within a couples hours drive, an enormous lake running a few hundred kilometres in length within 10min of city centre, world-class backcountry hiking in nearly every direction, a x-c ski area that regularly hosts world cups, awesome mountain biking, some amazing motorcycle highways, fantastic wineries and fruit farms, endless fresh vegetables, etc. International airport is 40min away. We even get some good performing arts acts. Lower Mainland is 4.5hr to downtown core. Population < 60K.
Not really seeing a downside to this place. Different strokes for different folks.
Boring old towns often come with cheap space, something that's impossible to find in big cities. With space comes infinite possibilities. Set up a 1/4 acre farm and see how much can be automated. That'll suck all the free time out of a day.
For example I have many friends in large metropolitan areas whose lives revolve around eating and going out. On the other hand I much prefer going on hikes to going out to dinner and bars. Also if I want a more cultured experience I have enough money to hop on a plane and go anywhere I want. Overall the smaller town with the lower cost of living works very well for me.