Cheat Lake, WV is a small town located near Morgantown. It offers its residents a slower pace of life while still enabling them to take advantage of the entertainment, shopping, and dining experiences offered in Morgantown. The 2 Bedroom Rent in Cheat Lake is only $1,040 compared to the average US rent which is $1,430 for the same size apartment, which helps keep living costs low. Additionally, Grocery Cost Index in Cheat Lake is 104 versus 100 in the US; this indicates that groceries are slightly more expensive than in other parts of West Virginia. Popular local companies include Cheat Lake Animal Hospital, Cheat Lake Dental Care, and Cheat Lake Pharmacy & Home Health Care. Residents also have access to amenities such as hiking trails and boating at nearby Cheat Lake Park as well as golfing at the nearby golf course..
Cheat Lake has an unemployment rate of 4.3%. The US average is 6.0%.
Cheat Lake has seen the job market decrease by -3.3% over the last year. Future job growth over the next ten years is predicted to be 37.8%, which is higher than the US average of 33.5%.
Tax Rates for Cheat Lake
- The Sales Tax Rate for Cheat Lake is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Cheat Lake is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Cheat Lake
- The average income of a Cheat Lake resident is $60,509 a year. The US average is $37,638 a year.
- The Median household income of a Cheat Lake resident is $99,656 a year. The US average is $69,021 a year.