From a Christian perspective, I would argue that more important than the "location" of heaven is the fact of the new heaven and the new earth in God's restoration of all things:
"Then I saw a new heaven and a new earth; for the first heaven and the first earth had passed away, and the sea was no more. And I saw the holy city, the new Jerusalem, coming down out of heaven from God, prepared as a bride adorned for her husband. And I heard a loud voice from the throne saying, “See, the home of God is among mortals. He will dwell with them as their God" (Revelation 21:1-3, NRSV).
That is to say, our ultimate communion with God will indeed be physical; this is a crucial aspect of why Jesus was resurrected that is often overlooked.