This research on engagement ring statistics was last updated in May 2024. We hope this data will enable couples to make a more informed decision before purchasing their engagement ring.
Summary of This Year’s Engagement Ring Statistics
Here are some of the statistics that we compiled based on our research. See below for sources and techniques for gathering our data.
- The average engagement ring budget in the United States during 2022 is $9,500. This is higher than the 2019 average of $7,400.
- Only 20.9% of those who answered our questionnaires would set aside a “large budget” towards their engagement ring.
- The average couple in the USA spends three and a half months searching for their engagement ring.
- Over 70% of the people searching for an engagement ring have existing debt.
- Over 90% of those surveyed said they wanted a natural diamond as the center stone of their engagement ring.
Engagement Ring Budget Priority
Updated: May 2024
Of the 10,000 couples we have surveyed since 2018, 24.4% said that they have allocated a High Budget for their engagement ring. 54.8% of those surveyed said that they have allocated a Medium Budget for their engagement ring. Only 21.8% of the people asked said that they allocated a low budget for their engagement ring.
Of course, this data only represents a relative figure that can only be understood based on each couple’s budget. This statistic, however, belays the importance that couples in 2018 are placing on their engagement rings.
Engagement Ring and Lifestyle
Updated: May 2024
Part of our questionnaire asks the couple to gauge their lifestyle. The options were modest, average, upper class, and luxury. This graph represents their answers and also gives insight into the self-projection of what people think that they are holding when in search of an engagement ring. The overwhelming majority of couples felt that their lifestyle was average.
Existing Debt and Engagement Ring Buyers
Updated: May 2024
Like some of the earlier graphs, this statistical chart gives comparative rather than numerical data. The amount of debt isn’t a set amount but rather a relative amount as defined by the survey-takers expectations and opinions.
Only 28.4% of the couples surveyed had no debt. The remaining 71.6% of people looking for an engagement ring already had existing debt.
- 27.7% of the people asked had “very little” debt
- 35% of the couples said that they had an “average amount” of debt
- 8.9% of the people searching for an engagement ring had “a lot” of debt
Google Searches of the Keyword “Engagement Rings”
Updated: Dec 2022
This data chart is interesting. It shows the popularity of the keyword “engagement rings” over the past four years. It starts in 2019 and runs until the end of 2022. The popularity of the keyword has dwindled over the years. There was a rise at the end of 2020, but the keyword has slowly decreased.
The decrease may be because Google searchers have gotten more precise in their search terminology and are instead searching for more specific keyphrases.
Here’s the search traffic for the keyword: vintage engagement rings.
How do we get our Data?
Estate Diamond Jewelry has been in business since 1981 and has a large network of buyers.
In 2016, we created an online engagement ring budget calculator (among many other online calculators) that has quizzed over 40,000 potential engagement ring buyers. The form helps couples discover an appropriate budget when shopping for their engagement ring. After discounting the outlying and erroneous data, we have discovered fantastic data that sheds much light on the engagement ring.
In 2017, we created another form called the engagement ring finder. This form helps couples find their dream ring. They input what type of ring they are looking for, and we search for them. We always encourage our potential customers to buy vintage, but the results aren’t limited to the niche.
Some of our data is also collected from other jewelry stores and websites.
We used Google Trends to determine our search-based statistics.
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