University, Mississippi, is a place that only exists to delineate the living area around a university. In this case, the school in question is the University of Mississippi, most frequently referred to as Ole Miss. The designated area of University exists primarily to serve as the proper mailing address for Ole Miss and its supporting facilities. Technically, most of the surrounding territory around the University of Mississippi is actually part of Oxford, rather than University. The school itself has more than 18,000 students enrolled and is a very well regarded school. It also has a very strong athletics program, especially in football. Archie Manning and his son Eli both played at Ole Miss.
The entire area around Ole Miss is very much tied into the comings and goings at the University. This means that the standard college town cycle of apartment availability dictates the best time to look for an apartment. If you shop any time between April and June, you will find the most apartments on the market for you to choose from.
In University and around Ole Miss, you will find that landlords expect to be renting to two types of people: students, or faculty. If you're either of these, you should find it very easy to rent an apartment, as most landlords are accustomed to the schedules and needs of these types of renters.
For public transportation in the area, the city of Oxford is the primary provider. They operate bus routes throughout the region. However, as is the case throughout most of the state, you will find driving to ultimately be the most convenient way to get around. Parking at the University can be problematic at times, but in other areas it should pose no significant problems.
Watching football games at a school with as proud of a football tradition as Ole Miss is a very special experience. There is also a University Museum that is worth visiting. If you want to dine out at anything but a chain restaurant, you will probably have to head into Oxford, where the bars are often full of college students.