Mortgage in Russia by year: how many loans are issued, what debt and what about rates
By the end of 2024 Russians owed banks 19.2 trillion rubles in housing loans. At the end of 2019 it was 7.6 trillion, so over five years the debt grew 2.5 times. At the same time mortgage issuance in 2024 fell: 4.9 trillion rubles versus a record 7.8 trillion in 2023. These are the latest data from Rosstat and the Bank of Russia available on the website; figures for 2025 and 2026 are not yet in the catalogue. Below are three charts: debt, issuance and rates, plus an analysis of who takes a mortgage and how much they earn. Each chart opens on roschart.ru in an interactive version.
How much Russians owe on mortgages
Housing loans in rubles at year‑end, billion rubles:
| Year | Debt, billion ₽ | Year‑on‑year change |
|---|---|---|
| 2019 | 7,635.2 | |
| 2020 | 9,292.0 | +21.7% |
| 2021 | 11,765.8 | +26.6% |
| 2022 | 13,848.6 | +17.7% |
| 2023 | 18,017.5 | +30.1% |
| 2024 | 19,202.0 | +6.6% |
Almost the entire debt is mortgage‑related. Of the 19,202 billion rubles of housing loans in rubles, 19,195.1 billion are mortgages; the rest are other housing loans. Debt in foreign currency disappeared: in 2019 it was 22.6 billion rubles, in 2024 it was 4.0 billion.
The sharpest year was 2023: debt increased by 4.2 trillion rubles, or 30.1%. In 2024 the increase was only 1.2 trillion, or 6.6%. Growth slowed because new lending dropped sharply, as described below. You can see the debt dynamics for each year on the chart.
Housing loans have become the main component of household debt. At the start of 2019, Russians’ total debt across all loans was 14,856.6 billion rubles, of which housing loans were 6,434.2 billion (43%). At the start of 2025, total debt was 34,968.3 billion, housing loans 19,206.0 billion (55%). Every second ruble that households owe to banks is for an apartment. The full set is in the table of personal loan debt.
Sberbank holds more than half the market: of the 19,202 billion rubles of housing debt, its share in 2024 was 10,830 billion, or 56.4%. In 2019 the share was 53.1% (4,057 of 7,635 billion).
How much mortgage is issued per year
Debt shows the accumulated amount, issuance shows what is happening now. Housing loans in rubles issued per year:
| Year | Issued, billion ₽ | Compared to previous year |
|---|---|---|
| 2019 | 2,947.9 | |
| 2020 | 4,450.0 | +51.0% |
| 2021 | 5,700.4 | +28.1% |
| 2022 | 4,816.9 | -15.5% |
| 2023 | 7,781.3 | +61.5% |
| 2024 | 4,891.8 | -37.1% |
The picture is saw‑toothed. In 2020 issuance grew by 51%, in 2021 it reached 5.7 trillion. In 2022 the market shrank by 15.5%, then in 2023 it jumped by 61.5% and reached 7.8 trillion. And in 2024 issuance collapsed by 37.1% to 4.9 trillion rubles. This level is close to 2022, but 1.7 times higher than 2019.
The share of housing in total loan issuance also fell. In 2023 housing loans accounted for 29.8% of all issued (7,781.3 of 26,134.5 billion rubles), in 2024 already 18.3% (4,891.8 of 26,799.4). Banks issued roughly the same amount of loans overall, but a noticeably smaller part went to housing.
Compare issuance and debt. In 2024 they issued 4.9 trillion, while debt at year‑end was 19.2 trillion: almost four years of issuance. So the bulk of borrowers are repaying loans taken in previous years and will keep paying for a long time. Comparing issuance by year is convenient on the housing loans chart.
How many loans were issued and what is the average size
Rosstat publishes both the number of loans issued. In rubles for the last four years:
| Year | Loans issued, pcs. | Volume, billion ₽ | Average loan, million ₽ |
|---|---|---|---|
| 2020 | 1,783,280 | 4,450.0 | 2.5 |
| 2021 | 1,911,650 | 5,700.4 | 2.98 |
| 2022 | 1,330,174 | 4,816.9 | 3.62 |
| 2023 | 2,038,291 | 7,781.2 | 3.82 |
The average loan is calculated by dividing the volume by the number of loans. Over four years it grew from 2.5 to 3.8 million rubles, that is by one and a half times. The loan size rises together with housing prices. How the price per square meter changed is examined in the article about housing prices in 2026. The number of loans fell in 2022 by 30.4% (to 1.33 million), and rose in 2023 by 53.2% (to 2.04 million). Data for 2024 on the number of loans are not yet published in the table. Full table: information on housing loans.
What about rates
The Bank of Russia publishes weighted average rates for loans to individuals. There is no separate rate specifically for mortgages in this set, the closest indicator: ruble loans to individuals for a term of more than three years. Mortgages usually fall into this group.
| Year | Rate, % per annum |
|---|---|
| 2020 | 9.73 |
| 2021 | 10.43 |
| 2022 | 11.22 |
| 2023 | 13.37 |
| 2024 | 18.85 |
Over four years the rate increased by 9.1 percentage points, and more than half of this increase occurred in 2024 (from 13.37% to 18.85%). The drop in issuance fell in the same year: in 2023 the rate rose to 13.37% from 11.22%, and issuance still grew by 61.5%, but in 2024, with a rate of 18.85%, it fell by 37.1%. The full set by loan terms is available on the page weighted average rates.
Who takes out a mortgage: borrowers' incomes
Rosstat surveys households every few years, and the results show how much families with a mortgage earn. Data for 2023, shares of households with a mortgage loan by level of monetary income:
- up to 40 thousand rubles per month: 1.4%;
- 40-60 thousand: 7.9%;
- 60-80 thousand: 11.0%;
- 80-100 thousand: 14.2%;
- 100-150 thousand: 32.6%;
- 150-200 thousand: 18.6%;
- 200-250 thousand: 7.8%;
- over 250 thousand: 6.7%.
The largest group of borrowers receives 100-150 thousand rubles per month, which is almost a third. Another third (33.1%) earns more than 150 thousand. And only 9.3% of mortgage families live on an income up to 60 thousand. So a mortgage remains a product for families with above‑average income. Table with the slice: distribution of households with a mortgage by monetary income.
Frequently asked questions
How much do Russians owe in mortgages overall?
According to the Bank of Russia, at the end of 2024 the total housing loan debt amounted to 19,202 billion rubles, of which mortgage debt was 19,195.1 billion. Data for 2025 and 2026 are not yet available in the site catalogue.
How much mortgage was granted in 2024?
Housing loans granted amounted to 4,891.8 billion rubles, which is 37.1% less than in 2023 (7,781.3 billion).
What is the average size of a mortgage loan?
Based on Rosstat data: in 2023 it was 3.82 million rubles (7,781,237 million rubles across 2,038,291 loans). In 2020 it was 2.50 million.
What is the interest rate on loans with a term longer than three years?
The weighted‑average rate on ruble loans to individuals for terms longer than three years in 2024 was 18.85% per annum, compared with 13.37% in 2023.
Who is the main creditor?
Sberbank: 10,830 billion of the 19,202 billion rubles of housing debt in 2024, or 56.4%.
What follows from this
From these data it is clear how issuance is linked to the rate. While the rate stayed below 14%, issuance grew to a record 7.8 trillion. After moving above 18% it fell by 37% in one year. For banks the picture is different: their portfolio continues to grow because old loans are paid for decades. To estimate how many years it takes to save for an apartment without a loan, see the article about saving for an apartment, and housing affordability by region is compiled on the page /dostupnost-zhilya.
Summary
- Housing loan debt: 7.6 trillion rubles in 2019, 19.2 trillion in 2024, an increase of 2.5 times.
- Issuance moved irregularly: 4.5 trillion in 2020, 7.8 trillion in 2023, 4.9 trillion in 2024 (-37.1%).
- Average loan rose from 2.5 million rubles in 2020 to 3.8 million in 2023.
- Interest rate on ruble loans to individuals over three years: 9.73% in 2020, 18.85% in 2024.
- One third of borrowers receive 100-150 thousand rubles per month, another third more than 150 thousand.
Source: Rosstat and the Bank of Russia, data for 2024 (based on borrowers' incomes for 2023).