In the publication we describe Russian regional markets of higher education. We consider the following indicators of the markets: size in terms of students per 10 000 of population; its institutional structure – number of public and private institutions, universities and their local branches; program diversity; level and dynamics of tuition fees during recent years; and levels of market concentration in higher education. For each key indicator we present geographical maps that characterize differentiation of the regional markets. We also analyze indicators of regional markets of higher education in conjunction with clusters of Russian regions outlined by Independent Institute on Social Policy (2006) on the basis of socio-economic indicators and derive meaningful conclusions on differentiation of key indicators of higher education markets. We show that in Russia the level of regional development corresponds to the level of concentration and diversification at regional higher education markets.