The Average Cost of an Engagement Ring in 2025? A Guide for Engagement & Wedding Ring Costs

A Question We Hear All the Time

One of the most common questions couples ask us is: “How much are engagement rings on average?” If you’re planning to get engaged in the next few years, it’s important to understand both the average engagement ring cost and how to set a budget that makes sense for you.

At Arnold Jewelers in Largo, FL, we love guiding couples through this exciting process. The truth is, engagement ring and wedding ring costs vary widely, and what matters most is finding something beautiful that works within your comfort zone.

Is 2 months’ salary for an engagement ring a rule?

According to industry experts, the average cost of an engagement ring is expected to be around $6,000. However, it’s important to remember that the cost should ultimately be based on your personal financial situation and what you feel comfortable spending.

For years, the jewelry industry promoted the idea that you should spend two to three months’ salary on an engagement ring. While this tradition still influences some buyers, most couples today prefer to set their budget based on their personal finances and lifestyle.

At our store, we see happy couples spend anywhere from $500 to $15,000+. Whether it’s a classic solitaire, a vintage diamond ring, an alternative engagement ring, or a custom design, the most important thing is that the ring feels special to you both. The cost of the engagement ring should always be something that feels comfortable and special to you both.

Engagement Ring vs. Wedding Ring Cost

When budgeting for your big day, don’t forget that you’ll likely be purchasing both an engagement ring and wedding bands. While the engagement ring is usually the larger investment, wedding ring cost also matters.

• Engagement Rings (average): $5,000–$7,500 nationally (but beautiful rings exist for every budget).

• Wedding Bands (average): $500–$3,000, depending on whether you want plain gold, diamond accents, or a custom style.

• His & Hers Sets: Many couples choose matching sets, which can be both stylish and cost-effective.

Factors that impact the cost of an engagement ring

If you’re searching for the perfect ring, you may be wondering how much you should budget for this special jewelry piece, and who will be paying for the ring. Well, it’s no secret that the cost of an engagement ring can vary widely, depending on a number of factors. From the carat size and quality of the diamond to the type of metal and setting, there are plenty of variables to consider when shopping for a ring.

But don’t fret if you’re working with a tight budget – finding a beautiful and meaningful ring is possible without breaking the bank. Just remember that a cheaper engagement ring doesn’t have to mean sacrificing beauty or style.

1. Carat size

Carat size refers to the weight of the diamond, and it’s one of the most important factors to consider when selecting your dream stone. It’s worth noting that carat size doesn’t necessarily determine a diamond’s quality, as there are other factors such as color, clarity, and cut that all play a role in its value. However, carat size does affect the price, so it’s important to balance your desired size with your budget.

b. Setting type

From classic solitaires to elaborate halos, settings influence both price and style. Intricate designs or those with side stones typically cost more than minimalist designs.

With so many different options available, it’s important to take the time to explore the various settings and find the one that best fits your style and personality. Settings are available in a wide variety of materials and can even feature two-tone designs. The band can have an elaborate design or be as simple as you’d like. Whether you prefer a classic solitaire or a more intricate design with diamonds or other accent stones, there’s a setting out there that’s perfect for you.

3. Quality of the diamond

When it comes to choosing a diamond, the quality of the stone is paramount. After all, you want your investment to shine bright for years to come. But what makes a diamond high quality?

The 4 Cs—cut, color, clarity, and carat—determine a diamond’s value. High-quality stones cost more, but even budget-friendly options can sparkle beautifully.

A high-quality diamond will have excellent clarity, with few to no visible blemishes or inclusions. It will also be expertly cut, maximizing the stone’s brilliance and overall beauty. And of course, the color and carat weight will also play a role in determining the diamond’s quality.

When shopping for your perfect diamond, be sure to do your research on diamond buying to ensure you’re getting a high-quality stone that will last a lifetime.

Budget-Friendly Tips for Buying an Engagement Ring

• Choose alternative metals: White or yellow gold is more affordable than platinum.

• Pick a smaller center stone: A well-cut smaller diamond can look dazzling while reducing cost.

• Consider alternative gemstones: Moissanite, sapphires, and emeralds offer unique beauty and lower price points.

• Explore vintage & estate rings: At Arnold Jewelers, we carry one-of-a-kind vintage engagement rings that are both affordable and sustainable.

• Shop local sales in Florida: Our Largo showroom often has promotions that make finding the perfect setting even more budget-friendly.

Local Insight: Engagement Ring Costs in Florida

If you’re wondering how much are engagement rings on average in Florida, the answer depends on style and preference. In the Tampa Bay area, we regularly see couples choose rings in the $2,000–$8,000 range. Many opt for unique vintage designs or custom rings that reflect their story, rather than just following national averages.

Final Thoughts

At the end of the day, your engagement ring is a symbol of love—not a dollar amount. Whether you spend $1,500 or $25,000, what matters is choosing something meaningful and beautiful for your partner. And don’t forget to budget for wedding bands, since the wedding ring cost is often overlooked but equally important.

Finally, be sure to look for monthly sales and discounts. With a bit of creativity and patience, you can save money and still have a stunning ring to symbolize your love.

💍 Ready to find your dream engagement ring? At Arnold Jewelers in Largo, FL, we offer a wide range of engagement rings and wedding bands—from affordable solitaires to custom-designed engagement rings.

👉 Visit us in-store in Tampa Bay or shop online to explore engagement rings and wedding ring sets that fit your budget and love story.