Since FC is in the front of the plane, you'll also be the best informed of the passengers in case there's an in-flight emergency. The warning annunciators like the fire warning system can be clearly heard in FC. I always find it kind of funny listening to the altitude being called out by the guy voice when landing in an MD-88.
Another thing to consider is the proximity of a galley for FC if it were located in the middle of the plane. While a 767 or 777 wouldn't be a problem, smaller aircraft like the MD-88/90s and 737s would be a problem trying to fit in a galley.
And yes, noise can be an issue in the rear. The back of an MD-88 sounds like riding in the bilge of a diesel-powered fishing boat running flat-out.