Chris is correct - the listing isn't misrepresenting because it is physically NW of H-T. However, everyone in Austin is aware that "campus" refers to UT. I suspect the agent listing the rental was getting creative, hoping to draw eyes to the listing.
If it bothers you, I suggest contacting the brokerage/agent and sharing your thoughts.
People often forget there are other college campus's besides UT. There are four other universities in the Austin Area. ACC- has multiple locations, Concordia, Saint Edwards, Houston Tillitson. Allways look at the map andor Google the address to be sure the location really works for you. Good luck!
These rental listings are manually entered by agents. Perhaps they are talking bout Huston Tillotson? It is North West of that school. In any case, that is the beauty of having a map right in the listings. If you don't like the location then pass on it and keep looking.