How Much Should I Factor In The Percentage of Renters In A City?

[Alvin Garcia]

First Time Commenter Here. 

I am interested in out-of-state investing and am currently researching markets to invest. I found one that has a lot of checks (low crime, population/wage growth, good schools, etc.) however, numbers are showing that roughly 30% of the city are renters. Should that percentage be a concern? The majority of these renters are likely college students so my thinking is that there may be a constant influx of students looking for off-campus housing (this is an assumption though so no hard numbers to prove).

Would love any thoughts/feedback on my thinking here.

Thanks!