Been there.
I was in a long, long, LONG distance relationship.... 3 years now.
I lived in California, he in Connecticut. We talked on the phone every single night, and visited each other every 8 months or so. Finally we decided it was time to take the next step, or quit wasting time and end it all together.
Since he is NOT going to be moving to your city (it sounds like he has ties to it... house? family? job? etc) YOU need to decide... is it worth it to you? Move and be with this guy or end it all? Weigh the pros and cons. Worst comes to worst, you can always move back home if it's not working out.
Fortunately for me, 7 months AFTER the move accross the country, things are going well. Yes, I have no money. Yes, I need a new car but can't afford it. But considering my alternative was to end this wonderful, loving relationship i was in, it's worth it.
A little word of warning: IT IS NOT EASY. The first three months are EXTREMELY HARD. I spent every night in tears because i missed home so much. I guess for you, you just need to think about it... weigh your alternatives.
Like I said, worst comes to worst, you can always move home.
Life is too short! Live it up now
Good luck!