Engagement Ring Costs in 2025: What You Need to Know
LOS ANGELES – Selecting the perfect engagement ring is often as important as choosing the partner you want to spend your life with.
The Current Average Cost of Engagement Rings
According to a recent study from Faithful Platform, the average expenditure for engagement rings across the United States in 2025 is approximately $6,527. While this figure represents the national average, significant variations exist depending on the state.
Highest Average Spending by State
- Washington: $10,109 (12.0% of income)
- California: $9,482 (11.1% of income)
- Illinois: $9,197 (12.4% of income)
- Kansas: $8,947 (13.2% of income)
- New Jersey: $8,842 (10.5% of income)
- Florida: $8,809 (12.5% of income)
- New York: $8,785 (10.2% of income)
- Michigan: $8,535 (13.5% of income)
- Massachusetts: $8,193 (8.7% of income)
- Texas: $8,063 (11.9% of income)
Factors Influencing the Increase in Costs
The CEO of Faithful Platform, Austin Willard, explains that modern couples are placing a higher value on personalization, ethical sourcing, and distinctive design rather than merely focusing on the price tag. The popularity of alternatives such as lab-created diamonds and colored stones is on the rise, which can offer both savings and a unique aesthetic.
Moreover, traditional retailers are often seen marking prices higher, contributing to the broad range of expenditures observed across different states and income brackets. While some individuals stick to modest budgets, others can spend over 13% of their annual earnings on an engagement ring. Willard notes that the old “three-month salary” guideline is no longer a realistic standard for today’s consumers. “If that were still the standard, we’d be seeing $17,000–$21,000 rings in some states,” he remarked.
Key Factors in Engagement Ring Pricing
Various elements influence the cost of an engagement ring:
- Type of Gemstone: Natural diamonds remain the classic choice, while lab-grown diamonds and vibrant gems are becoming increasingly popular.
- Metal Selection: Choices like platinum are pricier, while 14k gold offers a more cost-effective option.
- Complexity of Design: Customized settings and intricate designs can drive up labor costs significantly.
- Brand Influence: Renowned designers and established retailers often apply higher price marks.
Wise Spending Strategies for Couples
Faithful Platform advocates prioritizing your financial well-being and the significance of your relationship over the numerical price of the ring. The platform offers budgeting tools, complimentary consultations, and customizable ring options tailored to couples’ narratives and financial situations.
Recommended Approaches for Engagement Ring Shopping
- Consider lab-grown diamonds for a balance between cost and sustainability.
- Explore financing or layaway plans that allow for staggered payments.
- Seek personalized advice from jewelers focused on ethical practices and transparent pricing.
Source: This article is based on findings published by Faithful Platform, which analyzed spending patterns for engagement rings in the United States.
