We’ve heard the rumor that you have to spend three months salary on an engagement ring. But as you know, rumors aren’t always true. According to the Wedding Wire 2019 Newlywed Report people spend an average of $5,000 on an engagement ring. Remember that is just an average. There’s no set amount on how much you should spend on an engagement ring. It really is whatever you feel most comfortable spending. The ring represents the next chapter in your lives. It’s not about how much you spend but finding that perfect ring that symbolizes your love for each other!

How much does an engagement ring cost?

Other than giving an overall average, the real answer is: whatever you want. It comes down to what’s important to you in a center diamond. And whether or not you want diamonds on the sides of the ring or a diamond halo around the center diamond. There are many attributes that determine how expensive and rare diamonds are. There four C’s (carat, clarity, color, and cut) will determine the overall cost of a diamond.

Four Engagement Rings

Steven Singer Jewelers has engagement rings in all price ranges. And they can assure there’s a beautiful ring just for you. From ready to wear Ready for Love Diamond Engagement Rings start at just $428 all the way to custom engagement rings, Steven Singer has rings to fit any budget. Buying a diamond can be stressful so Steven makes it easy! Unlike other chains or well known jewelry stores, Steven Singer doesn’t play those pricing games. No haggling, no nonsense, no sales, no b.s. , just one Perfect Price every day. So, you’ll always get the best value, at the best possible price. Just another reason to hate Steven Singer.

Top Engagement Ring Styles

To make it even easier, let’s take a looking at some of Steven’s top engagement rings to give you a better idea of what you can get in different price points.

Engagement Rings Under $1,000

Shop Steven's Ready for Love Diamond Engagement Rings under $1,000.


Engagement rings don’t have to break the bank! Just because the average is several thousand dollars, doesn’t mean that’s what's right for you. This ring is only $548 and that's not a typo! It's beautifully set in 14kt white and rose gold and utilizes a mirage setting and diamond halo to give her ring a big look for less. With the intricate twist, ultimate sparkle and unique style, you can get details, diamonds, and a yes for under $1,000!


You can’t go wrong with a classic. In a solitaire engagement ring, the center stone is the star. Solitaire Engagement Rings are always a popular choice, because it’s also a timeless look that never goes out of style. This is perfect for a classic girl, but also for an indecisive one, whose tastes constantly change. A solitaire setting allows you to put all your money into the center stone instead of splitting up your budget to add diamonds to the side. This is a good choice if the main stone is the priority!

Engagement Rings $1,000- $2,500

Shop Steven's Ready for Love Diamond Engagement Rings $1,000 - $2,500


Get more bang for your buck with one of Steven's Ready for Love Bridal Sets. No need to worry about what the wedding band is going to cost, this engagement ring set comes with the matching wedding band. The engagement ring has a cluster center which gives you a huge look at an incredible price and around that is another halo! It's no doubt a head turner and people won't believe the whole set is only $1328. For that price, you can get yourself something nice too.


Halos are the diamonds that around the center stone and are beautiful in any price range. They are an excellent way to draw attention to a center stone by making it look bigger as well as accentuate the main diamond. The split shank along the side of the band in this Tai Ready for Love brings your eyes to the marquise shaped center diamond. This ring is $2498, proving that you can find an intricate design, big look and an enthusiastic yes for under $2,500.

Engagement Rings $2,500- $5,000

Shop Steven's Ready for Love Diamond Engagement Rings $2,500 - $5,000


Past, present and future rings are a great way to add a sweet touch to the design. The center diamond will sacrifice a little in size if this is the direction you go, but the large side diamonds make up for it and then some with a big look that scores sentimental points. Steven's Venus Ready for Love comes in at only $4498 and adds an extra fun twist on the classic 3 stone, utilizing ovals as the center diamonds.



For a three stone design with a bit more glam, check out the Kadence Ready for Love for $4898. It pairs emerald cut diamonds with halos in a three stone design. Step cut diamonds like emeralds can get pricier but when paired with round brilliants, it achieves similar size and quality. This ring matches the flash of an emerald cut with the brilliance of the round to create a huge, glamorous, but surprisingly still classical look. It will no doubt turn heads and still keep you below the average spend of $5000.

Engagement Rings $5,000 +

Shop Steven's Ready for Love Diamond Engagement Rings $5,000 +


We have thousands of settings and certified loose diamonds. If you are looking to have more of a say in the diamond and what setting it is paired with, it may make more sense to talk to a real jeweler. At Steven Singer Jewelers, we love to sit down, educate you on diamonds and what factors go into the price of a diamond. To save you even more money and stress with customizing an engagement ring, we have our own shop on site with master bench jewelers to do any and all the work in house. Unlike other jewelers, we set everything in house, and you get your first ring sizing for free. The benefit of having our own shop on site is that we never to inflate the price to cover shipping costs back and forth for shop work and the turnaround time for setting can be as little as one day getting your engagement ring back to you quicker.


The sky is the limit! If you can't find exactly what you're looking for, we can make it for you. Our jewelers love working with you in creating the perfect piece of jewelry and you are a part of the process every step of the way. But rest assured, even if you do custom at Steven Singer Jewelers, we still honor our 100-day, 100% money back guarantee. Unlike other jewelers who make custom jewelry final sale or non-returnable, the most important thing to us is that our customers are happy. If you would like to learn more about the process of making a custom engagement ring click here. I did an article on that too!

I would personally love to help you pick out that perfect ring or answer any questions you might have. You can contact me, Stephanie, or any of Steven’s expert jewelers. We are real people, at a real jewelry store, with real jewelry. So come visit us at the Other Corner of 8th and Walnut in Philadelphia, online at ihatestevensinger.com or call or text us. Real jewelers are waiting to help you!



Comments (2)

  1. Reply

    Hi there, great article. Could you answer something for me? I have my wedding planned for a few months from now. I heard the Coronavirus is already causing problems with wedding services. Do you think I should postpone the wedding until the Coronavirus has run it’s course?

    • Reply

      Hi Jarod, thank you for reaching out. Congratulations on your upcoming wedding. As of now, we have not had any couples postpone or cancel their wedding due to the virus.

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