So, check into that. But--as a practical matter--a lot of people do rent out individual rooms to college students. I live close to a big university, and it's not at all uncommon.
One tip: If you haven't bought yet, look for a property with a high ratio of bathrooms to bedrooms. You don't want a 4 bedroom/1 bath home if you're going to be renting it out to multiple people. Instead, look for a home (and townhouses are really good with the ratio) with something like 4 beds/3 baths.
Hope that helps.