A sparkly engagement ring is probably the most recognizable symbol that a wedding is in the works.
But it’s a deeply personal symbol too, and what you choose — whether it’s a diamond, an heirloom ring or a custom creation — all come with varying costs.
Betrothed couples spent an average of $5,000 on engagement rings in 2017, according to WeddingWire, an online marketplace for the wedding industry. Its 2018 Newlywed Report surveyed more than 13,000 couples.
“While the average cost of an engagement ring is $5,000, there really are no rules,” says Anne Chertoff, trends expert at WeddingWire. “People should spend the amount they feel comfortable spending.”
Here are some factors to consider: