First-year students have to live on campus unless they live with a parent or guardian. Sophomores are required to as well unless given special permission from the Office of Residential Life. After sophomore year, however, all students have the wonderful ability to live off campus. There are a variety of ways to go about searching for a place to live, and there are all kinds of offers out there, but just be sure you are willing to pay for utilities, furniture, and other necessities. At first, you may feel as if the pickings are slim, but if you start early enough and stay persistent, you will be sure to find the place that is right for you.
The split is about 50/50 who stays on campus and who goes off campus, but it is usually best to stay on campus because then you have access to free printing in the library and access to LUPD, plus living on campus helps you stay more involved avoid having to go home in the dark.