Statistics About The Average Cost For Engagement Ring

In this post, we’ll explore the various statistics surrounding the average cost for engagement rings, shedding light on the preferences and spending habits of couples when it comes to this significant purchase. From the popularity of platinum settings to the average amount spent on engagement rings in different regions and the increasing trend in ring costs over the years, these statistics provide valuable insights into the engagement ring market.

Statistic 1

"Platinum settings are chosen by 20% of engagement ring buyers."

Statistic 2

"Americans spend around two months' salary on an engagement ring."

Statistic 3

"The average cost of an engagement ring in the United States is approximately $5,500."

Statistic 4

"Diamonds account for 82% of all engagement rings sold."

Statistic 5

"27% of engagement rings are bought online."

Statistic 6

"Millennials spend an average of $3,000 on engagement rings."

Statistic 7

"60% of engagement rings are purchased from local jewelers."

Statistic 8

"62% of couples shop for rings together."

Statistic 9

"Men spend an average of $7,000 on an engagement ring while women spend around $1,500."

Statistic 10

"Only 0.1% of engagement rings feature synthetic diamonds."

Statistic 11

"The average cost of an engagement ring in the UK is £1,865."

Statistic 12

"The average engagement ring costs roughly $6,000 in 2021."

Statistic 13

"Engagement rings with vintage designs cost on average $3,500."

Statistic 14

"The average amount spent on an engagement ring has increased by 25% in the last decade."

Statistic 15

"81% of ring purchasers report setting a budget before shopping."

Statistic 16

"25% of couples finance their engagement ring purchase."

Statistic 17

"The average solitaire setting costs about $4,000."

Statistic 18

"Custom-made rings account for 20% of engagement ring sales."

Statistic 19

"One in three engagement ring purchasers go into debt to buy the ring."

Statistic 20

"The average 1-carat engagement ring costs around $4,700."

From the aforementioned statistics, it is evident that the average cost for an engagement ring in the United States is approximately $5,500, with Americans typically spending around two months’ salary on this significant purchase. Diamonds remain the most popular choice for engagement rings, accounting for 82% of all sales. Local jewelers are the preferred shopping destination for 60% of buyers, while online purchases continue to rise, with 27% of engagement rings now being bought online. Millennials, on average, spend $3,000 on engagement rings, showcasing a generational shift in spending habits. The average amount spent on engagement rings has increased by 25% over the past decade, indicating a trend towards higher-priced rings.