Test in UE4.9, blank blueprint project
Reproduce steps:
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Create two NavArea class, the one is in content/NavArea01, and the other is in Content/Developers/navAreaDev
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Modify default cost to any non 1 value.
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Add Nav mesh bound and modifier volume in to level, change the Default->Area Class to NavArea01 will see the cost changed.
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However, if changing the Area Class to navAreaDev, the cost set in navAreaDev does not affect to the nav mesh.