Doesn't matter... You're probably not going to live in the neighborhood. I'm going to Temple and I will most likely live in Center City and take the subway to school, it's only 3-4miles. I'm sure you could do the same at UPenn
It kind of depends on what you want from the school. I think there was a thread on this same topic earlier if you want to check.
I will most likely be looking to specialize and I am going to Temple. I don't feel like I am at a disadvantage by going there either. You have to consider the "fact" that more people might specialize coming out of UPenn because more people went to UPenn because they wanted to specialize. This could be a stark contrast with Temple where people recognize that it is more focused on producing the best clinicians. My assumption is that more people attending Temple have no intention of specializing. I would assume UPenn will be more competitive because it seems like some of the people attending there are attending because they believe it to be more "presitigious" and because of that there will be a lot more gunners... just my 2 cents.