Ideal Population Size?

[Jacob Zivanovich]

Hey there! First post.

Looking to invest in Chico, California, a smaller city in Northern California. The population is around 100,000. Although I realize inventory is low everywhere in the US, is this too small of a population to invest in? There doesn't seem to be a lot of small multi-family on market, and wondering if it's worth diving into. All macro indicators suggest that this is a greenlight to invest, and local housing conditions seem to be okay except for inventory. 

Thanks.