Soon I will have lived on campus for 2 years. No more. I've had enough of living with other people, I want somewhere where I can live alone. My first semester was in a dorm. After that I was able to move to apartments with upperclassmen. There are still loud parties here, but it is generally less noisy, and the immediate region is less saturated with the particle that science has yet to define: the Moron. It's not a boson, but it definitely exists. At any rate, there are fewer of them in the apartments.
If I had to live in the dorms another semester, I probably would have dropped out by now. I hated that place. Soccer matches in the halls, wrestling matches upstairs, idiots throwing up drunk in the hallways, jerks would run up and down the hallways at night and just pound on every door, random fire alarms, and a complete lack of anywhere I could go to just be away from people. I was confined to a place where I couldn't get away from my stressors, they were always nearby. I had been robbed of a quiet "safe" place to go.
I had always been a sound sleeper, able to sleep through fire alarms. Now I am waken up by the warm air hitting my feet from the heater. The relay clicking in my UPS will wake me up. One week, I woke up at 4am for 4 days straight for no reason.
Next year I will be moving off campus. I won't care much for the fact that I'll have to drive every day, but it should be a short distance of less than 5 miles. I really do look forward to finally having my own place. I've had enough of the social living thing. I guess I am glad I did spend time on campus: It'll give me perspective when I'm scraping a foot of snow from my car at 7:25am. "This is snow, it is temporary. It will be done with soon. Loud irritating people are persistent, and remain so well above the freezing point of water."
So, if you're sociable and "normal" in that respect, then campus living should be fine for you. If you are acclimated to being alone, it may take some adjustment, assuming you ever do adjust.