How Style and Setting Affect What You Spend on an Engagement Ring

  • Paige Hutson
  • September 5, 2025
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Engagement ring spending in America has never been more diverse—or more revealing of cultural and economic trends. In 2025, buyers are spending anywhere from $1,000 to well over $10,000, with averages shifting by region, style, and personal priorities.

From New York’s luxury market to the South’s more modest budgets, these numbers tell a story about how Americans spend on an engagement ring, reflecting changing values, financial realities, and the growing influence of lab-grown diamonds and sustainable choices.

Current Spending Patterns Across America

Americans spend between $5,200 and $6,800 on engagement rings in 2025. BriteCo’s research shows an average of $6,504. Carat Trade reports $6,800, marking a 12% increase from last year. Faithful Platform finds buyers spending closer to $5,200. The Plumb Club study indicates $5,493, up 2% from 2023.

Regional differences shape these numbers. New York buyers spend $9,400 on average. Washington residents pay around $10,109. California averages $9,482. Meanwhile, southern states report typical spending between $3,000 and $4,000. Mississippi, Arkansas, and West Virginia buyers average under $3,500.

Budget Brackets and Buyer Choices

Sixteen percent of buyers spend $1,000 or less. These buyers pick lab-grown diamonds, smaller natural stones, or alternative gems. Online retailers and customization platforms support this growing segment.

Most couples spend on an engagement ring between $3,000 and $7,000. This range accounts for the majority of engagement ring sales nationwide. Urban buyers in this bracket often spend toward the higher end, while rural buyers tend toward the lower end.

The luxury segment starts at $10,000. High-income buyers in urban centers drive these sales. They seek exceptional carat sizes or designer brands. Washington, California, and Illinois regularly see purchases above $9,000.

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How Ring Style Affects Your Budget

The shape and setting you choose will change the final price more than most buyers expect. A radiant cut diamond costs less than a round brilliant of the same quality because fewer people buy them.

Emerald cuts and cushion cuts also run cheaper than rounds. Princess cuts fall somewhere in the middle.

Your setting choice matters too. A solitaire band with one stone costs the least. Add a halo of smaller stones around the center and the price goes up 20-30%.

Three-stone rings cost more than solitaires but less than full pavé bands. Vintage-inspired settings with milgrain details add labor costs that show up in the final bill.

Price Changes Since 2022

National averages peaked at $9,025 in 2022. Spending then dropped due to inflation and economic uncertainty. Now prices are climbing again, though more slowly than before.

Inflation pushed costs up 12% year-over-year in many markets. Some buyers responded by choosing smaller stones. Others switched to lab-grown diamonds or alternative gems. Buyers with stable finances continued spending freely, particularly in New York and California markets.

Lab-Grown Diamonds Change the Game

Lab-grown diamonds cost 40% to 60% less than natural diamonds of equal quality, making them an attractive choice for couples deciding how much to spend on an engagement ring.

These stones now make up a substantial portion of U.S. ring sales, allowing buyers to get larger stones for their money. Quality often matches—or even exceeds—natural diamonds.

Over 40% of lab-grown diamond buyers cite environmental and labor concerns. These buyers value transparency in sourcing. They want to know where their diamonds come from and how they’re made.

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Metal Choices and Their Costs

Platinum bands cost the most. The metal’s scarcity and durability drive up prices. An 18-karat gold band costs more than 14-karat gold. Rose gold and white gold offer middle-ground pricing.

Metal choice affects the total budget by 10% to 25%. A platinum band on a $5,000 ring might add $500 to $1,250 to the total cost. Gold options keep costs lower while maintaining quality.

Breaking Away From Salary Rules

The two-month salary rule no longer applies. Industry experts recommend buying what fits your financial situation. Some buyers spend 7% of their annual salary. Others spend 12%. Higher earners often spend a smaller percentage due to other financial obligations.

Personal finance priorities come first. Debt payments, savings goals, and life plans matter more than arbitrary spending rules. A $1,000 ring works for some couples. Others comfortably spend $10,000 or more.

Shopping Methods Transform Pricing

Sixty percent of couples research how to spend on an engagement ring online before buying. One in three even makes the entire purchase online. Customization tools let buyers design exactly what they want, while price comparison apps help them find the best deals.

Direct-to-consumer brands cut out middleman markups. Custom design platforms offer transparency on materials and labor costs. Buyers see exactly where their money goes. This approach often saves 20% to 30% compared to traditional retail.

Demographic Patterns in Ring Buying

Gen Z and Millennial buyers lead demand for personalized rings. They choose colored gemstones more often than previous generations. Vintage settings appeal to this group. Custom bands gain popularity each year.

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Younger buyers prioritize sustainable practices. They research brand ethics before purchasing. Direct online sales appeal to their shopping preferences. Traditional jewelry stores see less traffic from these demographics.

Economic Factors Shaping 2025 Purchases

Rising living costs make buyers more cautious. Many seek affordable luxury options. Alternative stones provide one solution. Creative settings offer another.

Some markets see buyers trading up despite economic pressures. High-income areas like Washington and New York maintain strong luxury demand. Middle-income buyers focus on value and longevity.

Personalized Choices: What to Spend on an Engagement Ring

Your ring budget depends on personal circumstances. Financial comfort matters more than meeting social expectations. A $900 lab-grown solitaire works for some couples. A $5,700 vintage gold design suits others. A $12,000 designer cushion-cut piece fits certain buyers.

Regional culture influences spending decisions. New York’s luxury market culture pushes averages higher. Rural communities see lower average spending. Your local market affects available options and pricing.

Personalization defines modern ring buying. Couples want rings that match their values and relationship. Transparency in pricing and sourcing matters. Financial comfort guides final decisions more than external pressure or outdated rules.


Paige is a Midwestern girl from central Indiana. She studies magazine reporting and creative writing at Indiana University Bloomington. When she’s not writing, she’s running mini marathons, planning adventures or taking pictures of her cat sitting like Buddha.

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