Engagement Ring Costs in 2025: A Comprehensive Overview

LOS ANGELES – After choosing a partner for life, the next significant milestone often involves selecting an engagement ring. However, navigating through the pricing and choices can be daunting. A recent analysis from Faithful Platform sheds light on the average expenditures for engagement rings in 2025 and the underlying factors that contribute to these expenses.

Average Spending on Engagement Rings Across the U.S.

The average cost of an engagement ring in the United States is reported to be $6,527 in 2025, though this figure can vary considerably depending on the state. Some regions see considerably higher spending, while others maintain lower budgets.

States with the Highest Average Ring Expenditures

• 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)

The Lowest Spending State

Details on the state with the lowest spending were not specified, but it highlights the stark differences in engagement ring investment across the U.S.

Factors Contributing to Rising Costs

According to Austin Willard, CEO of Faithful Platform, couples today tend to prioritize personalization, ethical sourcing, and intricate design over mere price tag considerations. Increasingly, options like lab-grown diamonds and alternative gemstones are gaining popularity due to their affordability and distinctive characteristics.

What Determines the Price of an Engagement Ring?

A variety of factors influence engagement ring pricing, including:

• Type of gemstone: While natural diamonds remain popular, lab-grown diamonds and colorful alternative stones are trending.
• Metal choice: Platinum is the costliest option, whereas 14k gold offers a more affordable route.
• Design complexity: Custom settings and intricate designs can significantly increase labor costs.
• Brand: Renowned designer names and large retailers generally impose higher markups.

Smart Spending Tips for Couples

Faithful Platform emphasizes the importance of focusing on financial wellbeing and relationship compatibility rather than fixating on price tags. They provide various tools for budgeting, free consultations, and custom ring design services tailored to individual stories and financial situations.

For those shopping for an engagement ring, consider these options:

• Lab-grown diamonds: These provide an economical and sustainable choice.
• Financing or layaway plans: These allow for more manageable payment options.
• Professional advice: Seek guidance from jewelers who excel in ethical sourcing and transparent pricing.