Park City is beautiful. It's also very pricey compared to many of the surrounding areas, most people in PC seem to be in Condos on or near ski resorts.

It's all about what you're looking for. If you'd rather live in a larger house on a little property, there are many options in the area. Mountain Green, Morgan, and Heber are all fairly popular in that niche. They are quiet, small-town environments. If you want a more urban cultural, or social environment, a lot of people like the nicer downtown neighborhoods of Salt Lake. The Avenues, and Sugarhouse come to mind. They are also a bit more expensive and smaller houses.

If you are not of the predominant, local faith, Park city and downtown may provide a more familiar social environment than many of the suburbs where neighborhoods are often categorized (and dominated) by the local LDS ward (congregation). It's a great place to live and an awesome base. I think it may have some of the best real estate value in the country.