They have an economic base - and often tax support - that keeps them from eroding as other small towns without colleges tend to. Their infrastructure tends to be reasonably maintained, whereas most non-college towns always struggle to upkeep even basic infrastructure. Crime and murder rates are typically between very low and moderate (and almost universally below what you see in large cities). Housing is extremely affordable. Connectivity is usually solid, another perk of the town having more resources and consistent economic activity.
Pikeville, KY is too small imo at just 7,000 people, however you can find a lot of other college towns / cities at more like 15,000 to 30,000 that have better lifestyle amenities.