7 Interesting Facts About The University Of Arizona
The University of Arizona Was Originally A University And Prep School
The University of Arizona is a notable landmark in Tucson AZ. The U of A is one of the top academic institutions in the United States. Founded in 1885, the U of A opened its doors in 1891. From that date, it has forged a lasting legacy in education, exploration, innovation, research and athletics.
Of the 32 students enrolling at the U of A in 1891, only 6 actually entered the university. 26 students went to the prep school. The prep school was required since there were no high schools in the territory at that time. It took seventeen years before the university students outnumbered the prep school classes. The University continued the prep classes until 1914.
Firsts and Onlys
The University of Arizona has established itself on “Firsts” and “Onlys”.
1 – It was the first university in the Arizona territory. U of A opened its doors 43 years before Arizona became a state. Statehood occurred in 1928. Arizona was, in fact, the last of the 48 contiguous states to enter statehood.
2 – The U of A is the only M.D. Granting medical school in Arizona.
3 – The University of Arizona is the only school in the nation to offer a Bachelor of Arts in Law degree.
4 – The U of A has made Tucson the only city in America to have an “A” mountain.
5 – U of A’s Department of Geosciences maintains the #1 mineral database in the world.
6 – The U of A’s motto is “Bear Down”. This motto was immortalized from the U of A student body president and revered football quarterback John “Button” Salmon. When Salmon died in 1926, his last words to his teammates were “Tell them … tell the team to bear down.”
7 – At 12 noon everyday the University of Arizona clock tower plays, “Bear Down Arizona.”
Every year, some 40,000+ students attend the University of Arizona. And that means housing students is a significant undertaking every year.
The university continues to expand the supply of housing, but not all students are able to get into on campus housing. Many live off campus in investor owned rental properties.
What is a problem for some, is an opportunity of others. Investing in condos, townhouses or single family homes near the campus may be a better choice.
An investment in off campus housing may reduce overall student annual housing costs. Reduced costs and a strong potential for a return on investment upon graduation.
Tucson home prices have increased from lows of 2011. That means the opportunity for higher ROI’s have improved from the 2007 to 2011 plunge.
Prices Are Up
Prices have increased, but how much you ask? The following table shows the year over year Average Sales Price for Condos, Townhouses and Single Family Homes. The analysis is based on a minimum price of $150,000 and up within 2 miles of the U of A campus.
If your son or daughter is coming to the University of Arizona, congratulations! They will enjoy the campus and receive an outstanding education. Student housing offers a wide range of options and experiences. But for some families, buying a home or condo off campus may make more sense and possibly save you some money.
Before making this type of investment, you should discuss the transaction with you tax adviser or financial consultant; then contact us to see the housing options available.
Questions about the Tucson Real Estate Market or Tucson Homes for Sale?
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