Seismic vulnerability assessment of masonry structures is a very important issue even for regions with moderate to low seismic hazard. This is even more important when dealing with old buildings, such as the buildings located in the geographical area of interest, where all masonry structures were built in nineteenth century and in the first half of the twentieth century, that is, before the adoption of the aseismic design regulation. Although most of the masonry building stock in the researched region consists of residential buildings, there are also public and religious buildings. As a result of the field studies, it was determined that many people lived in these buildings. The uncertain behavior of masonry structures during earthquakes shows that people living in these residences are at risk. In this context, the aim of the research is to examine the building stock of masonry structures to evaluate the seismic risk in the region. There are different methods for assessing the vulnerability of structures. The purpose of the research, scope of the study, available resources, etc. should be considered when choosing the appropriate methodology. This paper presents a methodology for assessing the seismic vulnerability of existing masonry structures and the results obtained from the application of the methodology for the city of Gostivar.