Yakutia stands at the 9th position in the Russian family ranking.
In 2024, the Yamalo-Nenets Autonomous District, Khanty-Mansi Autonomous District - Yugra, and Magadan Oblast emerged as the Russian regions with the highest family well-being, according to a study by RIA Novosti. The ranking was determined by evaluating the potential remaining cash balance for a family with two working adults, one or two children, and the median regional salary (as estimated by RIA Novosti) after deducting minimum expenses.
The potential remaining cash balance was adjusted for the regional consumer basket to enable comparisons among regions with varying price levels. It is worth noting that families' minimum expenses usually surpass the subsistence minimum but cannot be lower. Consequently, the potential remaining cash balance for families with two children after minimum expenses represents a model calculation result, serving as an indicator for comparative purposes.
In 2024, the potential remaining balance was approximately 37,700 rubles. In 20 Russian regions, this amount surpassed the national average, although in reality, the balance is lower because the subsistence minimum only covers essential living expenses.
The Yamalo-Nenets Autonomous District led the ranking with a potential remaining cash balance of 125,200 rubles. Khanty-Mansi Autonomous District - Yugra was in second place with 86,900 rubles, and Magadan Oblast followed closely in third with 75,000 rubles. Moscow placed fourth with 66,800 rubles, and the Nenets Autonomous District was fifth with 65,200 rubles.
The Republic of Sakha (Yakutia) ranked ninth on RIA's list, with a potential remaining cash balance of 54,200 rubles, higher than Moscow Oblast's 52,900 rubles.
In contrast, the North Caucasus republics struggled, with North Ossetia-Alania experiencing a negative potential cash balance (-1,300 rubles), Karachay-Cherkessia (-4,800 rubles), Dagestan (-5,400 rubles), Kabardino-Balkaria (-13,100 rubles), Chechnya (-14,000 rubles), Ingushetia (-16,100 rubles). In regions with a negative monetary balance, families largely rely on subsistence farming, individual entrepreneurship, and other forms of labor, alongside informal or 'gray' salaries, according to RIA.
Comparing family well-being across Russian regions involves considering factors such as median regional salaries, cost of living, and the potential remaining cash balance. Urban centers, like Moscow and St. Petersburg, generally have higher median salaries and better access to amenities, leading to a higher potential cash balance for families. Conversely, rural areas and less developed regions often struggle with lower salaries and fewer job opportunities. Additionally, government policies and incentives can impact family well-being, particularly in newly incorporated regions.
Due to a lack of specific data on family well-being rankings and broader issues like economic disparities and human rights violations in different regions, a comprehensive assessment remains challenging. However, it is clear that urban centers generally offer better economic opportunities, while rural areas face challenges related to lower incomes and fewer services.
In the realm of personal-finance, the Yamalo-Nenets Autonomous District, Khanty-Mansi Autonomous District - Yugra, and Magadan Oblast were the highest ranking Russian regions in terms of family well-being due to their higher potential remaining cash balance. On the other hand, family business prospects appear less promising in the North Caucasus republics like Ingushetia, Chechnya, and Dagestan, where a negative potential cash balance indicates significant financial difficulties and reliance on alternative sources of income.
