How much should an engagement ring cost? If you're wondering how much you should spend on an engagement ring, we've created a guide for you here!

Finding the perfect girl and planning the perfect proposal is anything but easy. It can take years to meet that special someone and ask the big question. Choosing an engagement ring is just as difficult.

Engagement rings come in all shapes and styles. There are different types of cuts, materials, colors, and designs. Ideally, you should choose one that matches the personality and lifestyle of your significant other.

But how much should an engagement ring cost? Is there a price range to aim for? Not really.

When it comes to choosing an engagement ring, you need to consider your budget and the expectations of your loved one. The "two months' salary" rule doesn't really apply.

Just because your friend spent $30,000 on an engagement ring, it doesn't mean you should do the same. You can find models as cheap as $200 or as expensive as $100,000 and up.

Feeling confused? Don't fret — that's perfectly normal. Here's what you should know about choosing an engagement ring and how much you can expect to pay for it!

Understand Your Options

First of all, take some time to learn about the different engagement ring styles out there. The most important aspect to consider is the ring setting. Depending on your budget and preferences, you may opt for:

Channel setting
Infinity setting
Three-stone setting
Halo setting
Bezel setting
Eternity band
Flush setting

And much more...

The bezel setting, for example, features a minimalist, sleek design. The ring is fitted around a diamond or gemstone, holding it in place.

This type of setting protects the diamond from impact, making it ideal for stones that are prone to chipping, such as pear and princes cuts. It's perfect for women with an active lifestyle as it requires minimal maintenance. But it also appeals to those who love vintage styles, such as Victorian or Art Deco.

The three-stone setting, on the other hand, allows for multiple large stones and can be easily personalized. The downside is that it requires more cleaning and maintenance compared to the bezel setting.

Another aspect to consider is the material used. A rose engagement ring, for example, is stronger than yellow or white gold rings. With proper care, it can last a lifetime.

Other popular options include white or yellow gold, platinum, titanium, or recycled metals. A less common material is green gold, which can be combined with white and rose gold for a unique tri-color look.

How Much Should an Engagement Ring Cost? Let's Do the Math!

The average engagement ring cost will depend on the above factors and others, such as the brand and type of diamond. Your location matters too.

According to a recent study, most Americans spend around $5,900 on engagement rings. About one in three consumers pay $1,000 to 4,000 on this piece of jewelry.

The highest average spent ($7,500) was registered in the Mid-Atlantic region. Those living in the Midwest, by comparison, spend only $5,300 on the perfect engagement ring.

Most proposers focus on the ring's style and setting, with nearly half of them preferring a round cut. The next most popular options are the princess, oval, cushion, and pear cuts.

Choose the Perfect Engagement Ring

Still wondering “How much should an engagement ring cost?” Go ahead and research your options — visit local jewelry stores or look online for inspiration. If you find a model you like, check out different stores to compare prices and get a good deal.

Think about how the ring will look with the wedding band. Study the different types of diamond cuts and engagement ring styles. The stone and caratage matter too.

Looking for other tips on how to plan the perfect proposal and take your relationship to the next level? We've got you covered! Browse the rest of our blog to find out more!