The average cost of an engagement ring in the United States in 2025 is around $5,200 to $6,300, according to multiple sources including The Knot and Estate Diamond Jewelry
. However, this average varies widely depending on personal budgets, location, and preferences.
Key Points on Engagement Ring Cost:
- The traditional "three months' salary" rule is outdated; many now spend closer to one month’s salary or set a budget based on their financial situation and priorities
- Nearly two-thirds of couples spend less than $6,000, and about one-third spend less than $3,000 on an engagement ring
- Median spending is about $1,900, with many couples spending under $3,000
- Regional differences exist: for example, couples in Mid-Atlantic states tend to spend around $6,900, while those in the Midwest average about $4,900
- Millennials tend to spend around $3,000 on average, often opting for lab-grown or alternative stones to maximize value
- Engagement rings can range widely in price, from a few hundred dollars to tens of thousands, depending on the style, diamond size, and setting
Recommendations:
- Set a budget based on your personal financial situation rather than societal expectations or averages
- Consider the preferences of your partner and choose a ring that fits their style and your budget.
- Some couples choose to buy a temporary "placeholder" ring and select the final ring together after the proposal
In summary, there is no fixed amount you "should" spend on an engagement ring. The average is around $5,000, but a meaningful and beautiful ring can be found at many price points depending on your circumstances and preferences
