Did you know that the average consumer spends almost $5,500 on an engagement ring? So says a new research study by The Plumb Club, which found that the average spend on bridal jewelry came to $5,493, up 2% since their prior survey in 2023.
At MiaDonna, we don’t subscribe to the outdated notion that you have to spend two months’ salary to “prove your love.” Diamonds are wonderful, but they’re not worth going into debt over. MiaDonna grown diamonds make engagement ring shopping so much more affordable, so you can get the ring you’ve always dreamed of, without sacrificing your future plans of adventurous travels, making your house a home, pursuing higher education, or starting a family — any and all plans for living your life to the fullest.
No matter how much you want to spend, you can easily find the engagement ring - and the diamond - of your dreams, at the budget you need. Affordable luxury? Right this way.
Engagement Rings Under $1,000
16% of Plumb’s survey respondents spent up to $1,000 on their engagement ring. While challenging to do, it’s definitely not impossible to find a beautiful engagement ring under $1,000.
Our Petite Engagement Rings collection is designed to make beautiful engagement rings affordable, with preset designs where you’ll find six engagement rings that fall under $1,000 including the lab-grown diamond center stone: Nika Petite Marquise, Emrys Petite Emerald, Eirlys Petite Emerald, Oona Petite Oval, Signe Petite Marquise, and Selah Petite Round.
Engagement Rings Under $2,500
21% of survey respondents spent $1,000-$2,500, and there are too many gorgeous MiaDonna rings in this price point to count! Many of our simplest settings are solitaires, and their simplicity makes them the most affordable setting to start with if you’re building your ring made to order.
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Our most popular solitaire engagement ring settings — The Traditional, Dior Stackable, Tracie, and Calista — start at $695 for the setting. You can add the lab-grown diamond of your choice to any of these and easily stay under $2,500, like a 1.62ct Ideal Cut, D Color, VVS2 Clarity Round Cut Diamond, a 1.57ct D color VVS2 Oval Cut Diamond, or a 1.59ct G color VVS2 Emerald Cut Diamond. Most diamonds up to size 1.6 will keep you under $2,500 in these settings.
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More lovely solitaire choices under $1,000 include the Odessa, Jamie, Blonde, and Lilac, which all leave you with plenty of room to choose a gorgeous diamond and still stay under $2,500.
Engagement Rings Under $5,000
The largest portion of survey respondents — 29% — spent between $2,500 - $5,000 on their engagement ring. That’s more than enough to buy yourself a gorgeous ring you’ll love forever. In this price point, we recommend splurging on a more decadent setting with accenting diamonds.
One of our favorite best sellers is the Millie Hidden Halo, featuring a hidden halo of 0.06ctw lab-grown diamonds for a surprising amount of sparkle sitting above a delicate high polish band. The Millie can be set with most 2.5ct MiaDonna Grown Diamonds without going over $5,000.
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Another perennial favorite is our Classic Hidden Halo Ring, a classically glamorous setting featuring 0.31ctw of accenting lab diamonds on the band and a sweet hidden halo at the prong head. It comes preset with a stunning 2.0ct round lab-grown diamond in 14K White, Yellow, or Rose Gold, for $2,695.
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Engagement Rings Under $10,000
If you have between $5,000-$10,000 to spend on your engagement ring, like 21% of respondents, you have countless options. You could take one of our simpler settings and focus on making your diamond as big, bright and brilliant as possible, like pairing a Esme Open Shank Solitaire with a bright and beautiful 4.0ct round cut diamond.
But you might prefer tripling your diamond count and splurging one of our gorgeous Three Stone Engagement Rings. You could choose one of our preset Three Stone Rings, like the romantic Luna Oval Three Stone Ring, or add a 5.0ct emerald cut to your Chorus Engagement Ring to make a big, bold statement.
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How to Choose the Right Diamond for Your Engagement Ring
Earth-mined diamonds and lab-grown diamonds are both judged on the same criteria — cut, color, clarity, and carat size - commonly referred to as The Four Cs. While all diamonds are beautiful, we recommend sticking with the following grades to ensure maximum brilliance:
Cut: Excellent and above
Color: H and above
Clarity: VS2 and above
Carat: Size is absolutely your personal preference - many MiaDonna shoppers are dazzled by 1.0-3.0ct center stones, and some love the larger 5.0-7.0ct sizes. Always up to you!
The Four Cs can certainly be confusing, but MiaDonna’s team of diamond experts can help you decide which C is most important to you, how to prioritize the Cs in your budget, how to pick the right diamond shape, and how to pick the ring setting that suits your diamond shape and lifestyle best. They assist both walk-ins and scheduled appointments at our Bridgeport Village store in Portland, Oregon, and advise all over the world through our Virtual Appointment service.
Ultimately, don’t let anyone, or any company, tell you how much to spend on your diamond. The perfect diamond for you is the one that will set you up to shine in life for years beyond your wedding.
*All prices accurate at the time of this writing, May 2025. All diamond prices vary based on cut, clarity, carat size, and color.
