As TT says, it's a shithole. I used to live in the neighbouring town of Ramsgate and owned a flophouse full of winos and junkies in Margate.
One reason it's such a dump is that the train to London takes 2 hours, so there are almost no commuters. What you're left with is chavs, retirees and asylum seekers. Next year there are supposed so be some fast (150 mph?) commuter trains operating to Folkestone via Ashford. Some Margate services also go via Ashford, so the theory is that the new trains could cut the journey time by about 20 minutes. This is why many investors have been buying in Margate over the last few years. (Believe it or not, prices used to be much, much lower.)
Shopping down there has improved slightly with a new shopping centre on the way to Ramsgate which even has an M&S in it. And a TK Maxx! Ramsgate has a Waitrose, but the product range is slanted towards the wrinklies; lots of tinned vegetables.
The beaches are good, the countryside nearby is good, restaurants are crap except for a Thai one in Ramsgate. Health services seem dreadful to me...you can check schools for yourself. There's an airport but it went bust along with the budget airline which served it. I think all they have there now is freight and training flights.
All the bright young people leaving the area. Anyone with qualifications leaves. Only the chavs stay.
The plus side is that, as TT says, the countryside between Thanet and Canterbury is unspoiled - real 'Darling Buds of May' stuff. And Ramsgate harbour is fairly fantastic. And there's one of the UK's more highly thought of wheelbuilders in Ramsgate. Forgotten his name - builds wheels for Poshbikes.
Struggling to think of a highlight in Margate though. They were going to build one - an art gallery - the Turner centre I think. It was going to be IN THE SEA and do for Margate what the Tate did for St. Ives. But they ran out of money.