Cheat Lake, WV

Average · 93

West Virginia · Population 10,485 · Updated March 2026

$1,113
Median Rent / Month
$111,379
Median Income
$345,500
Median Home Value
$1,305
Owner Costs / Month

Affordability

How far your income goes in Cheat Lake

12.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in West Virginia

State-level tax rates that affect your costs

5.12%
Income Tax (Top Rate)
6.0%
Sales Tax
0.58%
Property Tax Rate

Estimated Annual Costs

$13,356
Annual Rent
$5,703
State Income Tax
$2,004
Property Tax (est.)

Cost of Living Overview

Cheat Lake offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 93 (where 100 equals the national median), Cheat Lake residents can expect to pay median rent of $1,113/month while earning a median household income of $111,379/year.

The median home value in Cheat Lake, WV is $345,500, with typical monthly owner costs around $1,305 including mortgage, insurance, and taxes. The median rent-to-income ratio of 12.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

West Virginia has a moderate income tax rate of 5.12%. Combined with a 6.0% sales tax rate and 0.58% effective property tax rate, the overall tax environment is a factor in the total cost of living in Cheat Lake.

Frequently Asked Questions

Common questions about living costs in Cheat Lake

What is the cost of living in Cheat Lake, WV?
The cost of living index in Cheat Lake, WV is 93 (US average = 100). Median monthly rent is $1,113, median household income is $111,379/year, and the median home value is $345,500.
Is Cheat Lake, WV affordable?
Yes, Cheat Lake is more affordable than the national average with a cost index of 93. The rent-to-income ratio is 12.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Cheat Lake, WV?
The median gross rent in Cheat Lake, WV is $1,113 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,356.
What is the median household income in Cheat Lake?
The median household income in Cheat Lake, WV is $111,379 per year. This compares to the national median of approximately $80,000.
What are the taxes like in West Virginia?
West Virginia has a top income tax rate of 5.12%, a sales tax of 6.0%, and an effective property tax rate of 0.58%.