I've lived for 20 years in my current city centre flat - 4th floor of a 60's / 70's purpose-built 13-storey tower block, built into a hill, so experiences are different at different levels.
It is rented social housing but with mixed private / owner /social housing occupants. It is generally peaceful and action is taken (if slowly, over a period of time) when there are noise / antisocial problems. For most of my 20 years it has been peaceful.
More than anything, location has kept me here - it is away from main road traffic but within walking distance of all city centre facilities, and the main bus station (with a bus pass that is a GREAT bonus). It is not attractive from the outside, but the flat is in good condition and common areas are well maintained.
As I write I know that for all the disadvantages, the advantages have kept me here and I am content. I regularly consider doing a social-housing-swap which is possible, but each time I do this, the upheaval of moving v the mixed benefits and disadvantages of this flat mean that - yes, I am content.
For / Against
1. The Balcony - It has a much-used sheltered balcony, small, with room for pot plants, small table and a couple of chairs, tiny greenhouse, and even a useful windbreak, but it faces east / north / east. (There are flats on the other side of the block which are facing west / south / west which must get sun all afternoon.)
Against: So for me, no sun at all Nov - Feb, and for the rest of the year sun only approx. 6 am - 10 / 11 am. So on cold wintry days (as at present) I have to make the effort to get the lift and go downstairs for fresh air, after checking the weather on the balcony.
For: the view is good, onto a sunny (but the sun mostly not reaching my flat! sad!) sloping grassed area with mature shrubs and trees, and city centre birds (blackbirds, magpies, pigeons, crows and occasional smaller birds, with some birdsong) and a small quietly used children's play area and paths to city centre. I can watch the world come and go.
2. Noise -
For: concrete floors so no noise from other flats, altho if my bedroom were near the front door / the rubbish shute it would not be so peaceful.
Against: A resident living higher up is facing a pub and she complains about noise from the pub at closing time. Another resident complains of noise in / around west-facing flat.
3. Heating -
For: night storage heaters - not brilliant but I have learned to live with them.
Against: they were only upgraded recently. Prior to that, no night storage heaters in the bedroom - only inefficient and expensive electric wall heaters.
4. Lifts and stairs and walk-ups
For: this has worked well for 20 years. There are two lifts, but the nearest lift was replaced, so out of action for about 4 months. There are alternative walk-ups and steps to the 4th floor (my floor).
Against: I had a friend in a ground floor flat who was concerned about security. Check this if moving to a ground floor flat.