I live in Huanuco, another small region capital, similar in size. I often hear/read that medical facilities in the region's capital cities is not good. Perhaps this was the case 10-20 years ago, nowadays medical facilities are more than adequate. If you want more options for non-urgent medical matters you can always hop on a plane to Lima. So far I never had to opt to outside of Huanuco.
Another comment I often read is that you have far less choice in entertainment, international dining, shopping, etc. This is true. Outside of Peru's major cities (500+ K inhabitants) you'll usually only find one or two malls per city. In Huanuco there are limited options in terms of quality dining and wining (I love eating out). If you are into mediocre Peruvian food than you'll have the same options as anywhere else in Peru. But compared to Lima, with its good quality restaurants, dining in the country is very low level. Same goes for shopping (food and clothes), entertainment, etc.
Real estate is indeed interesting. Huanuco has been the fastest growing city in Peru for a while. A lot of 'outsiders' (as they call them here) are investing in RE in the city and region. Although prices have gone up a lot, outside of the city you can still buy hectares of land for living (and farming
prices are from PEN 40k and up for a hectare. In the city itself, expect to pay up to a million US$ in a decent area for a house. A house at the Malecon (river view) go for much more than that. Note that the houses are often 300-500 square meters. Big enough for a large family. Apartments are a lot less expensive.
The benefits of cleaner air, better climate, less traffic, less pollution (although a lot of mining in the area), options to go into the jungle/mountains nearby - all good points for regional live.
I fully agree with Alan's comment to rent a place for a few months and see what live in the countries smaller cities is like. If you are into a no fuzz quiet life then perhaps Ayacucho is a good choice for you.