I attend Temple and live in Philly.
You're right to say that Temple is less expensive than other alternatives. One can also live inexpensively in the city, unless one's determined to live in Rittenhouse or Society Hill.
Anyhoo.
Jobs: Well, the job market is in the crapper everywhere, and Philly's no different. City budgetary constraints have dropped new govt hires (in legal positions) to near zero or zero, and some firms are hiring smaller classes or letting more tenured associates go. Many get frightened by this, but it's all a matter of perspective. There are legal jobs to be had; one merely need lower his expectations and he'll likely find what he needs, even if it's not what he wants. I will say that Temple offers some useful assistance through our career services folks. The door always remains open for job counseling, no matter what the market. A minority of students obtain positions outside Philadelphia in NY, NJ, DE, and "everywhere else."
Culture: The culture in Philly is food and drink, mostly. We have great places to hang for cheap beer and karaoke as well as high end joints (that one probably can't afford as a student anyway). Great ethnic food, the cheesesteak, and more snack food per capita than any other place on earth. We've got all the historical jazz, theaters, and a great selection of museums, too.
Student Life: I could be wrong, but I think the students at Temple are more friendly and welcoming than at some other law schools. It wasn't hard to find a group I felt comfortable with and have fun with. The faculty are generally very approachable, which helps. The administration and financial aid, though with their hiccups given the size of the university, is also approachable and helpful.
On the whole, I couldn't have picked a better school for me. Temple is more diverse in age and race than many other schools, too, which is really nice. I don't feel as cloistered there as I might at other schools.
Oh, and Temple just raised its curve to a 3.05 from a 2.85, so that it'd more in line with the schools in our area ( I think that's the reason). Doesn't help me (3L), but it's not a bad deal; more folks get to slap their GPAs on resumes now, I gather.