Engagement rings, with their timeless sparkle and symbolic significance, have long been a cornerstone of marriage proposals and a cherished token of love and commitment. While the traditional diamond engagement ring remains a popular choice, recent trends indicate a growing preference for lab diamond rings, particularly among younger generations.
Average Engagement Ring Size
The average engagement ring size has remained relatively steady over the years, with most falling between 1.5 and 2 carats. However, there is a noticeable trend towards larger center stones, with a significant increase in the number of rings featuring diamonds over 2 carats. This trend is attributed to a combination of factors, including rising disposable incomes, changing social norms, and the influence of celebrity engagement rings.
Engagement Ring Costs
The average cost of an engagement ring has also been on an upward trajectory, reflecting the increasing demand for larger and more elaborate designs. In 2022, the average cost of an engagement ring in the United States was $5,741, with prices ranging from a few hundred dollars for simple bands to tens of thousands of dollars for intricate designs and large center stones.
Lab diamond rings: A Rising Star
Lab-grown diamonds, also known as lab-created diamonds …