My husband and I don’t have kids, but we made the urban to suburban switch about a year ago. We did it because of our dogs and because of eventual kids; we wanted a yard and to live in a neighborhood where you can see stars and where people are looking out for each other a little bit more, and where it’s safer.
Pros for us: Downtown is teenager-accessible for us, no problem. We deliberately looked for houses within walking distance of the local train station, so it’s easy for us to go downtown for dinner (and drinks! No DD needed!) if we want. If you decide on the 'burbs (though it doesn’t look like you will), this is DEFINITELY something to consider.
Our neighborhood is great- no HOA, idyllic atmosphere, easy entertaining in the yard, trees all over… Last time we were downtown after not having gone for a month or so, we were struck by how shabby and filthy everything was compared to how we remembered it. You get used to a lot living in the city. Our community also has a lot of things going on- a nice food co-op, cute little stores, and nice parks.
The improved safety is awesome. I don’t even have to think about taking the dogs for a long walk at two in the morning. I don’t have to think about how well-lit a street is, whether I’ll get mugged, whatever.
Public schools are better in the suburbs, at least where we are, but only in general. Most of the people I know who raised (see past tense- I only know one person who has a child in the city right now, and she’s not school-aged yet) kids in Philly proper sent their kids to private schools. Wait, make that all of them. The public schools where we are now are quite good, but property taxes are much higher than they are in the city.
Cons:
Culture is less convenient. All of the restaurants near us (that are outside our immediate “town”) are chains, and you have to take the train to get to good ones. Same with indie theaters, live performances, etc. While the train makes this convenient, it does mean things require more planning.
You have to drive for everything else. We barely put any miles on the car the entire time we lived in the city, but now we have to drive to a movie theater, many shops, or pretty much anything not immediately nearby (it would actually be an easy bike ride to the nearest mall, which is closer than it was in the city, but we don’t spend much time there, so it’s not a huge issue).
Bottom line: Even as two adults who loved the city and miss some aspects of it, we like living in the suburbs better. Of course, living close enough to the train station to get downtown in about 25 minutes has helped immensely with this, as we get to have most of the best of both things. As much as we bitch about the lack of good restaurants, they’re still there, and we like living in a safe, clean, and friendly environment more than having easier access to things we normally planned in advance anyway.
For you, do what you want. Plenty of people can and do raise kids in cities.