Just read the list for Yerushalayim, posted in 2012. I tried searching to see if anyone updated it, unsuccessfully. So here's my take (and let us get some updated thoughts from the rest of y'all that lurk here):
YerushalayimProsGrocery prices on
basic foodstuffs
At least one good restaurant/eatery for every category (regarding the food, not always the ambience)
Tuition cheap to free
Medical insurance, even if you pay for the best categories
Free gemachim for a humongous list of things you may need short term, from CPAP machines to laptops to apartments (if you reserve early enough) to rides to hospitals to food for new mothers ... the list goes on.
The huge hearts of the preschool teachers
Very little focus on gashmius ('cause we don't have any...)
Greater sense of hashgacha pratis
Everyone shares everything (when we need a double stroller / drill / food processor / space in the freezer / few more chairs / larger living room for a kiddush, we just ask the neighbor. The same goes for when they need something.)
Shibud to Rabonim (When the local Bet Yaakov decided to segregate English-speakers into their own classes, the machlokes lasted two years. When Rav Shteineman gave his psak against the school's shita, it was suddenly like the machlokes never happened.)
I'd trade Chiloni taxi drivers for those of other persuasions any day (and bonus: sometimes you get a Charedi taxi driver)
Rubbing shoulders with other bnei aliyah constantly
The kosel
If you are in it: The Yeshivas Mir family of benefits and bonuses (you are always a part of it, even after you leave yeshiva), including discounted purchase of fruit, veggies, meat and chicken, and high-quality clothing
(Not everything here is exclusive - I would never claim that - but we have all of it here.)
ConsNone.
Things you may find difficult to deal withLanguage barrier
Stark change in middos of your average person compared to the US
List of things that are wildly expensive: American products (except some General Mills cereal, coffee, and a few other things with an official Israeli importer), plasticware, sugar drinks, and this year: any non-strawberry donut
Rent in neighborhoods with sizable English-speaking community has probably surpassed Brooklyn this year - rents have gone up an average of $400 a month
Construction right now has made a mess everywhere (hope this is temporary, but by the time it is done I'll probably be priced out of Yerushalayim)
To bring up healthy kids (despite the opinion of many people on this forum, it is possible to bring up edileh kids - just harder), you need to conform to a large extent
Either make aliyah or visit the embassy very often (every five years for each kid's passport, every ten for an adult, and every birth). At least you can do almost all Israeli bureaucracy online now.
New category:
Things that are somehow both good and difficultMass transit - when it works it is cheap and quick. When it breaks down, it breaks down.
Taxes - depends on if you are poor (stupendously cheap) or rich (kind of expensive)
Israeli neighbors and landlords - Some of them are the sweetest people you ever met. (We kind of got adopted by a bubby one flight up from us. She even sends the kids presents for their birthdays.) Some of them...
Cell phone service - dirt cheap still (78 shekel for unlimited in EY and to foreign countries with US phone number), but horrible service in many places
I'm out of ideas for today. Anyone want to chime in?