The study shows which regions in Russia had the highest shares of income devoted to monthly mortgage payments. It highlights Magadan Region, Chukotka Autonomous Okrug and Yamal-Nenets Autonomous Okrug as leaders in mortgage burdens. The findings come from a recent publication by RIA News and offer a snapshot of how housing costs relate to local earnings across the country.
According to the report, the Magadan region tops the list because the average salary there is nearly four times the typical monthly mortgage payment. This means borrowers in Magadan allocate a relatively smaller slice of their pay toward home loans compared with other regions. In second place, the Chukotka Autonomous Okrug posts a mortgage-to-income ratio of 26.2 percent, which still represents a substantial commitment for households but reflects a different economic structure than Magadan. The Yamalo-Nenets Autonomous Okrug rounds out the top three with a 26.6 percent share, underscoring how regional wage levels influence the cost of financing a home. In St. Petersburg and Moscow, the mortgage burden sits higher, with St. Petersburg around the 19th position and Moscow at 24th, where mortgage payments consume about 44 percent of the average wage in the capital city market. These figures illustrate a notable contrast in living costs between Russia’s major urban centers and more remote regions.
In the lower end of the spectrum, Kalmykia records the heaviest regional load: residents face monthly mortgage payments that absorb roughly 92.7 percent of the average local salary, signaling a squeeze on household budgets in that region. The nationwide picture shows that, on average, mortgage payments account for about 44 percent of the average wage over the last three months. This aligns with the 2022 benchmark, when the share stood at 50 percent, signaling some improvement in affordability over time. The data reflect a broad trend where regional income levels and housing costs interact to shape how households manage debt obligations.
Beyond the regional numbers, government policy plays a critical role in shaping affordability. On November 9, the Council of Ministers of the Russian Federation is expected to highlight additional funds for the preferential mortgage program, aimed at reducing borrowing costs for eligible buyers and sustaining subsidy levels at a seven percent annual rate. The policy move is part of a wider strategy to maintain housing access amid shifting economic conditions.
Further disclosed is the government’s allocation of an extra 95 billion rubles to subsidize preferential mortgage programs. Of this amount, about 41 billion rubles will support the Preferential Mortgage program, more than 46 billion rubles will fund the Family Mortgage initiative, and around 8 billion rubles will help retain the preferential rate for participants in the Far Eastern Mortgage scheme. These allocations signal a continued effort to balance affordability with the fiscal framework, ensuring continued access to lower-interest financing for families and individuals pursuing home ownership.
In related discussions, experts have explored factors behind rising apartment rental prices in Russia, noting that housing demand dynamics, regional wage dispersion, and policy support interact in shaping both ownership and rental markets. As policy responses evolve, households across the country are watching closely how subsidies and mortgage terms may shift in the coming months.