It's a world apart, I lived in a few area's around Coventry and while not particularly rough, they weren't what i'd call pleasant. It's more friendly around Rugby, generally more laid back, less trouble making idiots but maybe I just lucked into a good area.
Rugby has it's rougher parts but any decent agent will make you aware of this when viewing properties. Also go with your gut, that's what we did. Been here 4 years and just extended our contract by another 3.
Best thing financially for me was the drop in car insurance, I pay 60% less than Coventry, made up for the slightly higher rent/council tax prices....postcode lottery