Ignore @Chocolattay re culture, Liverpool has it in abundance and a lot of it is free. River of Light Festival, the Tall Ships, FACT, Pride / Homotopia, the Met Quarter / Liverpool One / Bold Street for shopping, Baltic for arts, alternative food and drinks, Red Brick for vintage and some great food and drinks, Africa Oye, Shiverpool, all the different heritage trails and walks, masses of green space / parks, the stunning Docks and all the eateries, bars and shops, loads of art galleries, the Biennial, Light Night Liverpool, loads of independent traders (don't forget to buy your Independent Liverpool card for all the offers). There is always loads to do.
In terms of housing, the posher areas in South Liverpool also have inexpensive areas within them such as Gateacre, Childwall, Woolton, Cressington and Mossley Hill where you can find some lovely terraces and flats. Aigburth Road is brilliant for terraces (but no back gardens, just yards). Off Lark Lane, you'll probably find flats in large houses, as the houses are huge, ex- merchant type Victorian villas. Off Allerton Rd you can find decent sized 3 and 4-bed terraces and little semis (with gardens). These areas will also attract students. Smithdown Road (the Dales Roads) is perfect for students and young professionals with great eateries and bars. I spend a lot of time in Liverpool but live on the Wirral! I love Liverpool! DM me for advice. I have loads of family and friends all over the city.