Here's The Average Engagement Ring Cost in 2023 According to Data

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So, how much do people actually spend on engagement rings? The Knot 2023 Jewelry and Engagement Study revealed the average engagement ring cost and more.
The Knot's latest study reveals all.
If you're planning to propose, expecting a proposal soon or you've already started to shop around with your partner, you should definitely have a few things in mind before either of you says yes to an engagement ring. After all, your forever sparkler is both a serious monetary investment and a piece of jewelry you or your partner will wear for life. Not sure where to start? We're here to help.