I haven't spent much time in the city so my opinion won't be balanced.   cons: getting started and becoming profitable and sustaining the farm especially if you are starting out from scratch, 

first of all I agree with Wendell Berrys quote
(in my own words)   one of the greatest myths adopted by humanity is that growing and preparing your own food is "beneath you" and is only for peasants 

pros:  healthy lifestyle, fresh air, clean diet, a "sandbox" for a life of memories,  (obviously right mindset is needed or it's no difference then city)