Property Manager not able to get FMR and section 8

[Jessica B.]

I know the Fair Market Rent for a two bedroom in my county is $691 from the HUD website. Over the past 3 years I've rented this property for 600/month. I'm turning it over to management and they have been unable to fill it at $600/month. So, I asked them if there was any reason we could not list it section 8. They said that section 8 only pays $525 for a two bedroom. Is my property manager correct about this? Is there a formula they use to determine what percentage of FMR they will pay?