All seven regions of the North Caucasian Federal District (NCFD) appeared in the lower tier of the Russian mortgage lending development ranking compiled by experts from RIA Rating. Four NCFD republics were among the five regions with the lowest figures, with Ingushetia taking the final, 85th place.

The ranking is based on the number of mortgage loans issued between June 2025 and May 2026 per thousand economically active residents.

Stavropol Krai posted the best result among North Caucasus regions, yet it still ranked only 74th. Over the year, 11.1 mortgage loans per thousand economically active residents were issued there—below the national average of 14.2 loans.

North Ossetia ranked 78th with 8.9 loans per thousand residents; Karachay-Cherkessia was 79th (8.2); Kabardino-Balkaria, 82nd (6.2); Chechnya, 83rd (5.8); and Dagestan, 84th (3.6). Ingushetia rounded out the list, recording just 3.4 mortgage loans per thousand economically active residents—less than a quarter of the national average.

However, trends within the district vary. Between January and May 2026, the number of new mortgage loans in Stavropol Krai rose by 41.7% compared to the same period the previous year. Growth was also recorded in North Ossetia (+21.5%), Karachay-Cherkessia (+7.9%), and Kabardino-Balkaria (+7.2%). At the same time, mortgage issuance continued to decline in three republics. The number of new loans fell by 28.5% in Chechnya, 13.2% in Dagestan, and 1.4% in Ingushetia. Chechnya, Dagestan, and Ingushetia were among only four Russian regions where mortgage lending continued to drop despite the overall market recovery.

Average mortgage loan amounts also vary. The largest loans in the North Caucasus are taken out in North Ossetia, averaging around 4.2 million rubles. In Stavropol Krai and Dagestan, this figure is approximately 4 million rubles, while in Karachay-Cherkessia it is 3.6 million, and in Kabardino-Balkaria, 3.4 million.

Residents of Chechnya and Ingushetia take out the smallest mortgage loans, averaging 1.5 million and 1.2 million rubles, respectively. These are among the lowest figures in the country, given that the average mortgage loan size across Russia is 4.45 million rubles.

Overall, the Russian mortgage market is gradually recovering. In the first five months of 2026, banks issued over 389,000 mortgage loans—a 43% increase compared to the same period last year. The total volume of issuance rose from 1.19 trillion to 1.73 trillion rubles. However, the market has not yet returned to the levels seen in early 2024.

Even the highest figure in the North Caucasus remains below the Russian average, and Chechnya, Dagestan, and Ingushetia remain among the few regions where the mortgage market continues to contract. This indicates that the market recovery across the country is highly uneven, and the North Caucasus remains one of the weakest regions in terms of mortgage accessibility.