Parents of University of Alabama students buy million-dollar property

TUSCALOOSA, Ala. ( WIAT ) — A new housing trend is hitting the market in Tuscaloosa as a long-term investment for some University of Alabama parents.

Lisa Hill said it made sense to buy instead of rent when she and her husband looked at places for their two daughters to move into after freshman year at UA. The Hills now have a million-dollar condo in Tuscaloosa for their daughters while they attend school.

“If we’re going to have a student here, we were going to be involved,” Hill said. “And I can tell you, we’re not going to sell when they get done.”

Keller Williams Realtor Alice Maxwell has helped many families move their children to campus and find student housing. Recently, she’s noticed an increase in families purchasing luxurious properties.

“It’s wonderful seeing more and more people invest in the heart which is right here on campus,” Maxwell said.

More than half of UA’s students were out-of-state in 2023, which is one reason why the student housing market is seeing a higher demand. Growth within the City of Tuscaloosa is another incentive to buy.

“They see it as an incredible opportunity,” Maxwell said. “They love the idea of being able to invest in Tuscaloosa.”

Many of the families who invest money into property are also investing time and resources into the university.

“We’ve become donors to the University. We are now season ticket holders, so we are investing in the University of Alabama for good,” Hill said.

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