What Americans spend on an engagement ring in each state, ranked from lowest to highest
- An engagement ring is an expensive purchase - Americans spend an average of $6,351.
- But when broken down by state, the average amount ranges from $3,518 to $10,241.
- People in California spend the most on engagement rings, while those in Utah spend the least.
The average American spends $6,351 on an engagement ring according to The Knot's 2017 Real Weddings Study.
There are many factors that go into pricing a diamond engagement ring. Diamonds are graded and priced based on the "four C's," which include cut, carat, color, and clarity. The "cut grade" of a diamond not only determines its "sparkle" effect, but also its price - for example, a one carat round shaped diamond with an "ideal" cut grade can range from around $2,000 up to $12,857 at Ritani depending on its grade for clarity and color.We asked the sales team at Ritani, an online diamond retailer that specializes in engagement rings, to dive deeper into the statistics and find the average price paid for an engagement ring across the US during 2017.
Below we've ranked the average amount of money spent on an engagement ring in each state, from lowest to highest.