How Much Does Engagement Ring Cost?
Updated for 2026 — national average costs with state-by-state breakdowns
What Does Engagement Ring Include?
An engagement ring is traditionally a diamond or gemstone ring given when proposing marriage. The diamond industry's old '2-3 months salary' rule is widely dismissed — modern couples spend what they're comfortable with, with lab-grown diamonds and alternative stones gaining popularity.
The national average cost for engagement ring is $5,000 per ring. Most homeowners pay between $1,500 and $10,000, though costs can vary significantly based on your location, the scope of work, and other factors outlined below.
What Affects the Price?
Stone Type
Natural diamond (1 ct): $4,000-$12,000. Lab-grown (1 ct): $1,500-$5,000. Moissanite (1 ct): $300-$600. Sapphire (1 ct): $500-$3,000
Setting
Solitaire: $300-$1,500. Halo: $500-$2,500. Three-stone: $500-$2,000. Vintage/custom: $800-$5,000
Metal
14k white gold: $300-$700. 14k yellow/rose gold: $300-$700. Platinum: $600-$1,500. 18k gold: $500-$1,000
Key Cost Factors
- ✓Diamond/stone type (natural, lab, moissanite)
- ✓Carat weight
- ✓Cut, color, and clarity
- ✓Setting style and metal
- ✓Brand and retailer
- ✓Custom vs ready-made
💡 Tips to Save Money
- 1.Lab-grown diamonds cost 30-50% less than natural diamonds with identical appearance and properties
- 2.Moissanite ($300-$600/carat) looks like a diamond for a fraction of the price
- 3.Buy slightly under popular carat weights (0.9 vs 1.0 carat) for 10-20% savings with no visible difference
- 4.Online retailers (Blue Nile, James Allen, Brilliant Earth) cost 20-40% less than traditional jewelers
📈 Engagement Ring Cost Trends (2020–2024)
Prices have increased +17.7% over the last 5 years
| Year | National Avg | YoY Change |
|---|---|---|
| 2020 | $4,247 | — |
| 2021 | $4,425 | +4.2% |
| 2022 | $4,713 | +6.5% |
| 2023 | $4,845 | +2.8% |
| 2024 | $5,000 | +3.2% |
Based on national averages adjusted for annual inflation. Actual costs vary by location and project scope.
Engagement Ring Cost by State
Costs vary significantly by state due to labor rates, cost of living, and local market conditions. Click any state for a detailed breakdown.
| State | Low | Average | High |
|---|---|---|---|
| Alabama | $1,230 | $4,100 | $8,200 |
| Alaska | $1,920 | $6,400 | $12,800 |
| Arizona | $1,425 | $4,750 | $9,500 |
| Arkansas | $1,200 | $4,000 | $8,000 |
| California | $2,025 | $6,750 | $13,500 |
| Colorado | $1,620 | $5,400 | $10,800 |
| Connecticut | $1,830 | $6,100 | $12,200 |
| Delaware | $1,575 | $5,250 | $10,500 |
| Florida | $1,470 | $4,900 | $9,800 |
| Georgia | $1,350 | $4,500 | $9,000 |
| Hawaii | $2,130 | $7,100 | $14,200 |
| Idaho | $1,380 | $4,600 | $9,200 |
| Illinois | $1,575 | $5,250 | $10,500 |
| Indiana | $1,320 | $4,400 | $8,800 |
| Iowa | $1,290 | $4,300 | $8,600 |
| Kansas | $1,275 | $4,250 | $8,500 |
| Kentucky | $1,260 | $4,200 | $8,400 |
| Louisiana | $1,305 | $4,350 | $8,700 |
| Maine | $1,530 | $5,100 | $10,200 |
| Maryland | $1,725 | $5,750 | $11,500 |
| Massachusetts | $1,950 | $6,500 | $13,000 |
| Michigan | $1,380 | $4,600 | $9,200 |
| Minnesota | $1,530 | $5,100 | $10,200 |
| Mississippi | $1,170 | $3,900 | $7,800 |
| Missouri | $1,305 | $4,350 | $8,700 |
| Montana | $1,425 | $4,750 | $9,500 |
| Nebraska | $1,320 | $4,400 | $8,800 |
| Nevada | $1,530 | $5,100 | $10,200 |
| New Hampshire | $1,680 | $5,600 | $11,200 |
| New Jersey | $1,875 | $6,250 | $12,500 |
| New Mexico | $1,350 | $4,500 | $9,000 |
| New York | $1,980 | $6,600 | $13,200 |
| North Carolina | $1,350 | $4,500 | $9,000 |
| North Dakota | $1,350 | $4,500 | $9,000 |
| Ohio | $1,350 | $4,500 | $9,000 |
| Oklahoma | $1,245 | $4,150 | $8,300 |
| Oregon | $1,650 | $5,500 | $11,000 |
| Pennsylvania | $1,530 | $5,100 | $10,200 |
| Rhode Island | $1,725 | $5,750 | $11,500 |
| South Carolina | $1,305 | $4,350 | $8,700 |
| South Dakota | $1,275 | $4,250 | $8,500 |
| Tennessee | $1,290 | $4,300 | $8,600 |
| Texas | $1,395 | $4,650 | $9,300 |
| Utah | $1,425 | $4,750 | $9,500 |
| Vermont | $1,620 | $5,400 | $10,800 |
| Virginia | $1,575 | $5,250 | $10,500 |
| Washington | $1,725 | $5,750 | $11,500 |
| West Virginia | $1,200 | $4,000 | $8,000 |
| Wisconsin | $1,410 | $4,700 | $9,400 |
| Wyoming | $1,380 | $4,600 | $9,200 |
Frequently Asked Questions
How much should you spend on an engagement ring?
Forget the outdated '2-3 months salary' rule — that was a marketing campaign by De Beers. Spend what you're comfortable with. The average in the US is about $5,000, but many couples spend $1,000-$3,000 and are thrilled with beautiful rings.
Are lab-grown diamonds real diamonds?
Yes — they are chemically, physically, and optically identical to mined diamonds. Even jewelers can't tell them apart without specialized equipment. They're graded on the same 4C scale. The only difference is origin (lab vs earth) and price (30-50% less).
🏙️ Engagement Ring Cost by City
Compare engagement ring costs in the most popular US cities:
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