An overview of the general cost of living index for Cheat Lake, WV is displayed above for your reference. Residents in Cheat Lake, WV enjoy a cost of living index of 107. This index is 24% higher than the West Virginia average, and 7% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Cheat Lake, WV, the average cost of goods and services is equal to it is in West Virginia, and it is equal to the national average.