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Engagement ring cost: lab-grown vs natural
The Knot’s latest Real Weddings Study surveyed about 10,500 couples who married in 2025. The average engagement ring cost $4,600, down from $5,200 the year before. The type of diamond is now the biggest factor in price.
| Center stone | Average cost | Average size | Most popular shape |
|---|---|---|---|
| Lab-grown diamond | $4,300 | 2.0 ct | Oval |
| Natural diamond | $7,000 | 1.6 ct | Round |
| All rings | $4,600 | 1.9 ct |
Source: The Knot Real Weddings Study, via IDEX Online (Mar 2026) and Rapaport (Feb 2026).
Natural rings cost about 63% more on average while carrying a smaller stone (our calculation). Put another way, the typical lab-grown buyer got a bigger diamond for $2,700 less.
Both types got cheaper in 2025. Lab-grown rings fell from $4,900 to $4,300, and natural rings from $7,600 to $7,000.
How the average has changed
| Year | Average ring cost | Lab-grown share |
|---|---|---|
| 2021 | $6,000 | |
| 2022 | $5,800 | |
| 2023 | $5,500 | 46% |
| 2024 | $5,200 | 52% |
| 2025 | $4,600 | 61% |
Sources: The Knot (Jan 2025) and Blue Nile (Sep 2026) for averages; IDEX Online (Mar 2026) for lab-grown share.
Lab-grown stones made up only 12% of rings in 2019. Their rise is the main reason the average fell about 23% from 2021 to 2025, as Blue Nile notes. Keep in mind these are averages, not medians, so a few very expensive rings pull the figure up.
What drives the price
- Natural or lab-grown. The Knot says lab-grown diamonds can cost 50% to 70% less than natural ones, and moissanite can cost even less. A natural one-carat stone alone can run $2,000 to $16,000.
- Carat weight. Blue Nile notes that price often rises disproportionately as carat weight goes up, so a bigger stone costs more per carat, not just more in total.
- Color, clarity and cut. Insured-value data from BriteCo shows how much grade matters for natural stones: VVS clarity rings averaged $18,581 in the D to F color range versus $10,779 in K to M.
- Metal. Platinum costs more than gold, and 18k gold costs more than 14k.
- Setting style. A simple solitaire costs less than a halo, pavé or three-stone design, because those use extra diamonds and more labor.
Engagement ring cost by region and state
Where you live shifts the average too.
| Area | Average spend |
|---|---|
| Mid-Atlantic (DE, MD, NJ, NY, PA, DC) | $6,900 |
| Virginia and West Virginia | $5,300 |
| Midwest | $4,900 |
Source: The Knot 2023 Real Weddings Study, via The Knot, Jan 2025.
Blue Nile’s own sales data shows an even wider range by state, from $3,406 in Wyoming to $9,329 in Vermont.
How couples pay for the ring
According to The Knot’s 2024 study, about one in four buyers used savings, including long-term investments. One in three buyers of new rings took on some debt, through credit cards, loans or borrowing from family and friends.
Paying with a card you cannot clear quickly adds interest to the real price. A simple alternative is a dedicated savings pot. Setting aside $4,600 over 12 months takes about $383 a month (our calculation). Our guide to sinking funds shows how to set one up.
How long it takes to save for a ring
Here is what different ring budgets look like as monthly savings. The middle row is the 2025 average. A third of buyers in The Knot’s 2024 study spent under $3,000, and $7,000 is the 2025 average for a natural diamond ring.
| Ring budget | Save over 6 months | Save over 12 months |
|---|---|---|
| $3,000 | $500 a month | $250 a month |
| $4,600 | $767 a month | $383 a month |
| $7,000 | $1,167 a month | $583 a month |
Monthly amounts are our calculation, based on The Knot’s 2025 averages.
Saving for a year instead of six months halves the monthly amount. A smaller budget is common, not unusual: 64% of buyers in the 2024 study spent less than $6,000.
Keep the ring money in its own savings account so it earns interest while you save and does not get mixed up with bills. If you are also planning the wedding, start a separate fund for that too, since it is a much larger number.
How to spend less on a ring
- Compare lab-grown and natural side by side. Same shape, same size, same setting. The price gap is often the deciding factor.
- Set a budget before you shop. Decide on a number you can pay in cash, then choose the stone and setting that fit it.
- Pick a simple setting. A solitaire in 14k gold keeps the money in the stone.
- Get a written appraisal and insure it. BriteCo reports the average insured engagement ring is valued at $6,504.
The ring is only the first big cost. See the average wedding cost and our guide to honeymoon cost to plan the full budget.
See how we research every number on our method page, or browse more family life costs.
Common questions
How much should you spend on an engagement ring?
There is no rule you have to follow, including the old "three months' salary" idea. Spend what you can pay without long-term debt. In The Knot's 2024 study, 64% of buyers spent less than $6,000 and 33% spent less than $3,000.
Are lab-grown diamonds cheaper?
Yes. The Knot says lab-grown diamonds can cost 50% to 70% less than natural stones. In 2025, couples paid an average of $4,300 for a lab-grown ring with a 2.0 carat stone, versus $7,000 for a natural ring with a 1.6 carat stone.
Why is the average engagement ring cost going down?
Mostly because of lab-grown diamonds. Their share rose from 12% of rings in 2019 to 61% in 2025, and lab-grown prices have fallen too. The Knot's overall average dropped from $6,000 in 2021 to $4,600 in 2025.
Should I insure an engagement ring?
Many owners do, because a ring is easy to lose. BriteCo reports the average insured engagement ring is valued at $6,504. Check whether your renters or homeowners policy has a low limit for jewelry before you buy a separate policy.
Sources
Every number above comes from these pages. We list the date each page showed when we checked it.
- IDEX Online, The Knot Real Weddings Study engagement ring findings
- Rapaport, Lab-Grown Taking Over Engagement-Ring Spending (The Knot)
- The Knot, Average Engagement Ring Cost
- Blue Nile, Average Engagement Ring Cost
Estimates are for general information only. Get written quotes from licensed local pros before you decide.
Parastoo Parsa is a budget strategist with a background in tourism strategy and cultural heritage. At DollarMap she researches and writes our guides on family life, pets, travel and big celebrations like weddings, turning published prices into budgets you can actually plan with.
“An organized life starts with an organized budget.”
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