Cleveland Section 8 payments vs Available properties

[Stefano Grottoli]

Hi!

I'm looking to start investing in Cleveland, and was looking at some 3 bedroom properties. The section 8 voucher pays $1,550 per month to 3 bedroom properties according to the Cuyahoga Metropolitan Housing Authority. However, when you look at the Affordable Housing website, only 4 out of 32 available properties that accepts voucher are listed by $1,550 or more.

Is that maybe a red flag that there's no demand for Section 8 in Cleveland? Why would any landlord list their properties for LESS than what the government is willing to pay? I'm just trying to understand the market in the area a little bit better. This will be my first rental property and I want to do the right thing. 

Thanks!