# Average engagement ring cost: what couples paid, year by year

Updated 2026-10-22. Canonical: https://howmuchtospendonaring.com/average-engagement-ring-cost/

**Short answer:** The average US engagement ring cost $4,600 for couples married in 2025 [1], down from $6,000 in 2021 [2]. Stones got bigger at the same time, because 61% of centre stones are now lab-grown [3].

## The average, year by year

| Year | Average US engagement ring | Study |
| --- | --- | --- |
| 2021 | $6,000 | The Knot Jewelry & Engagement Study [2] |
| 2022 | $5,800 | The Knot Jewelry & Engagement Study [2] |
| 2023 | $5,500 | The Knot Jewelry & Engagement Study [2] |
| 2024 | $5,200 | The Knot Jewelry & Engagement Study [2] |
| 2025 | $4,600 | The Knot 2026 Real Weddings Study [1] |

That is four years of decline, about a quarter off the 2021 figure. One caution: the 2025 number comes from The Knot's Real Weddings Study, which surveyed more than 10,000 couples married that year, not from the Jewelry & Engagement Study behind the earlier rows [1, 3]. The direction is clear. The exact size of the last step is less certain.

## Cheaper rings, bigger stones

Prices fell while stones grew. The average centre stone was 1.5 carats in 2021 and 1.7 in 2024 [5], then 1.9 carats in 2025 [3]. The reason is the lab-grown diamond:

- **Share of centre stones that were lab-grown:** 52% in 2024 [5], 61% in 2025 [3].
- **Average ring with a lab-grown stone:** $4,300 in 2025 [4].
- **Average ring with a natural stone:** $7,000 in 2025 [4].

So the falling average is mostly a mix change. Natural diamond rings did not suddenly cost $4,600. More couples bought lab-grown, which costs less per carat, and many of them used the saving on size.

## Where you live matters

The Knot's regional data for 2023 shows a wide spread, from about $6,900 in the Mid-Atlantic to about $4,900 in the Midwest [2]. Local salaries and local jewellers both play a part.

## Why other averages look higher

Insurers publish averages too, but theirs are appraised values of rings they insure, not what couples report paying. BriteCo's appraisal average was $6,504 in 2025 and $6,775 in 2024 [6]. Insured rings skew expensive, because people are more likely to insure a costly ring. Use the couple surveys for "what do people spend" and the insurer figures for "what do insured rings appraise at".

> Averages are a reference point, not a target. Our quiz turns your own salary and the months you are comfortable with into a range, so you can see where you sit.

## What the average buys in 2026

At $4,600 you are choosing between roughly two paths. A natural one carat stone in a common grade can take most or all of that budget before the setting is paid for, while a lab-grown one carat stone usually leaves most of it free. The [1 carat price guide](/1-carat-diamond-ring-price/) has the grade-by-grade ranges.

## Questions people ask

### What is the average cost of an engagement ring?

$4,600 in 2025 in the US, from The Knot's 2026 Real Weddings Study of more than 10,000 couples [1]. The Knot's earlier Jewelry & Engagement Study gave $5,200 for 2024 [2].

### Why are engagement rings getting cheaper?

Mostly lab-grown diamonds. Their share of centre stones rose to 61% in 2025 [3], and the average lab-grown ring cost $4,300 against $7,000 for a natural one [4].

### What percent of engagement rings are lab-grown now?

61% of centre stones in 2025, up from 52% in 2024 [3, 5].

### Why do different sites quote different averages?

They measure different things. Couple surveys report what people say they paid. Insurers report appraised values of rings they cover, which run higher: BriteCo's 2025 appraisal average was $6,504 [6].

## Sources

1. The Knot, 2026 Real Weddings Study: average wedding cost: https://www.theknot.com/content/average-wedding-cost
2. The Knot, How much to spend on an engagement ring (Jewelry & Engagement Study, 2021 to 2024): https://www.theknot.com/content/how-much-to-spend-on-engagement-ring
3. JCK, lab-grown diamonds in the engagement market, 25 February 2026: https://www.jckonline.com/editorial-article/lab-diamonds-engagement-market/
4. The Knot 2026 Real Weddings Study release, republished by The Jeweler Blog: https://thejewelerblog.wordpress.com/2026/02/23/new-study-when-it-comes-to-engagement-rings-getting-it-right-matters-most/
5. Axios, engagement ring size, cost and lab diamonds, 22 December 2025: https://www.axios.com/2025/12/22/engagement-ring-size-cost-lab-diamonds
6. BriteCo, average engagement ring cost (insured ring appraisals), 20 August 2025: https://brite.co/blog/average-engagement-ring-cost/