Balagushevo (; , BalaÃÂuà Â) is a rural locality (a selo) in Yengalyshevsky Selsoviet, Chishminsky District, Bashkortostan, Russia. The population was 241 as of 2010. The rural locality has 5 streets.
Balagushevo is located 48 km southeast of Chishmy, the district's administrative centre. Semyonovka is the nearest rural locality.