That same year, they paid a whopping $512.4 billion in rent, per Zillow. More recently, the rental market has seen higher demand for digital payment options, likely triggered by a need for faster payments and the rise in contactless transactions during the pandemic. The percentage of digital rent payments almost doubled from 17% in Q4 2019 to 33% in Q4 2020, per data from Zego.
This deal comes shortly after Amazon announced it’d expand Amazon Care beyond its own employee base to employers across all 50 states, and marks a breakthrough after a previous deal with potential customer Zillow fell through. For context, Precor is no small firm—it was acquired by Peloton for $420 million in December and has nearly 1,000 employees.
Between 2007 and 2015, nearly one in five housing foreclosures in the US occurred in predominantly Hispanic communities, according to an April 2019 report from Zillow. And July 2019 Census data shows that the US Hispanic homeownership rate has yet to regain the 50.1% peak it reached in 2007. But it’s no secret that this demographic has become a mainstay of the housing market.