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Cheat Lake

Learn about the people, housing, costs and businesses in Cheat Lake, West Virginia

Median Home$387,671
Median Rent$1,051/month
Population11,089
Leading IndustriesPublic Administration · Manufacturing · Arts, Food & Hospitality37% public administration
Home Value Growth-3.5% over 2 years
Family-Friendly23% of residentsnear the national average
Homeowners83% of occupied units
NotableHigh Incomes$114k/year · top 11% nationally
Cheat Lake
WV

Frequently Asked Questions

What are today's mortgage rates in Cheat Lake?

As of today, the 30-year fixed mortgage rate for Cheat Lake is approximately 6.882% (6.918% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Cheat Lake?

The median home value in Cheat Lake is $388k. The median monthly rent is $1,051. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Cheat Lake?

Home values in Cheat Lake have decreased 3.5% over the past two years. Buyers may find more negotiating room in this market. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Cheat Lake?

Based on a typical all-in ownership cost of $1,382/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $59k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Cheat Lake is $114k/year.

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What industries drive the economy in Cheat Lake?

The largest employment sectors in Cheat Lake are public administration (37%) and healthcare (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.