The 31 Best Affordable Engagement Rings of 2022 (2024)

The 31 Best Affordable Engagement Rings of 2022 (1)

Diamonds may be a girl's best friend, but they can also be your bank account's worst enemy. If you're shopping for an affordable engagement ring, you may have to think a bit more outside the box. Bigger carat sizes, flawless clarity, and unique settings all hike up an engagement ring's price, making your dream ring a very serious investment.

Meet the Expert

  • Kim Kanary is the senior vice president of marketing and brand management at JTV, where she leads the gemstones advancement team and social media group.

Spending the big bucks may not be a reality for you, and that's okay. Instead, try swapping out a natural diamond for a lab-created one (yes, they are legitimate) or a similar-looking diamond alternative like white sapphire, moissanite, or morganite. All are equally eye-catching and cost a lot less than mined diamonds. Also consider a colorful gemstone (a popular choice when affordability is a concern), a ring with enamel (super trendy right now), a cluster-style ring of smaller stones set together to create the illusion of a bigger center stone, and a unique setting with detailed metalwork (antique rings are a great option). Or, pick from a variety of metal settings instead of platinum, like yellow gold, rose gold, or sterling silver. Sticking to minimalist bands and bezel settings will also be cheaper—we know, we know, you may have had your heart set on a pavé band or halo, but truthfully, simpler styles are more of the moment anyway. So think of it as the cooler, more modern alternative.

"A general rule of thumb for matching diamonds is that they be within a color grade apart. For example, if your diamond center stone is an F color, your side stones could be E or G, and they would look cohesive to the naked eye," explains Kanary. In fact, since you don't necessarily need your stones to perfectly match, opting for diamonds that slightly vary in color is a great way to cut costs.

Thanks to the online world, it's never been easier to find a ring that offers the most bang for your buck. Sites such as Etsy, Brilliant Earth, and Blue Nile not only allow you to browse all of your options at the touch of your device, but they also take advantage of lab-created stones and customization options that provide more pricing flexibility.

The 58 Best Engagement Rings Under $5,000 of 2022

Whether you’re dead set on a diamond or open to gemstones, cluster rings, or antique styles, we've found an array of 30 inexpensive engagement rings that are as affordable as they are unique.

Introducing VRAI x Brides: Shop our exclusive collection of lab-grown diamond jewelry, perfect for the big day and beyond.

VRAI The Floating Split Band Engagement Ring

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How can you not say yes to this stunner? Available in rose gold, white gold, and yellow gold options for under $1,500 (sans the diamond band), this stunning ring is a top pick from the VRAI x Brides Collection. The modern silhouette offers a lifted center diamond and a hidden halo to create a unique floating effect.

Angara Step-Edged Three Stone Diamond Tapered Ring

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The best things come in threes, right? This beauty is sparkling proof. Available in platinum, rose, white, or yellow gold, customize this classic engagement ring to your own personal style

Barbela Design Diamond Nico Ring in Rose Gold

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The chain-inspired band of the Nico Ring is a great alternative to diamonds. Adding stunning visual interest, this bezel-set diamond solitaire is simply the prettiest piece to flaunt on your finger.

Rachel Boston Ilud Ring

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We have a special place in our hearts for trillion-cut diamond rings. Both edgy and eye-catching, this unique center stone will have all eyes on you.

WWAKE Nestled Moonstone and Diamond Ring

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This is one of those pieces where just one picture doesn't do it justice. Scroll through this ring's photos to admire its many gorgeous features as well as the different bands that can be styled with this stunner. From the enchanting moonstone to the dainty diamonds, there's nothing that we don't love.

Brilliant Earth Grace Engagement Ring

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This is simplicity at its best. Available in an array of metal types and stone shapes, make this timeless twist shank diamond ring the most authentic representation of you.

Blue Nile Petite Micropavé Diamond Engagement Ring

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Delicate yet striking, this marquise-cut stone shines brightly in the center of a platinum band half-embellished by petite micropavé diamonds. Plus, this solitaire's shape is bound to elongate your finger making for an ultra-flattering look.

Brilliant Earth Nadia Diamond Engagement Ring

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This piece maximizes its sparkle and creates the allure of a shimmering diamond band at a more affordable price. Customize this piece with your selection of a stone shape, carat size, and metal type.

Kataoka Aronia Ring

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It doesn't get any more romantic and ethereal than this. Effortlessly beautiful, a cluster of diamonds scatter throughout this gently twisted 18k beige gold or rose gold band.

Blue Nile Princess-Cut Petite Solitaire Engagement Ring

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A simple platinum band allows the center of attention to be on all of that irresistible shimmer! This petite princess-cut solitaire is just oh so perfect.

Jennie Kwon Green Tourmaline Deco Point Ring

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Just because you're on a budget doesn't mean you should have to sacrifice making a statement. For the bride who is seeking something bold, we've got you! A captivating green tourmaline stone sits in the center of this stunning 14k yellow gold ring.

Pandora Clear Sparkling Crown Solitaire Ring

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This price tag has us doing a double-take, and we're definitely not complaining. Featuring 14k gold-plated metal and clear cubic zirconia stones, this piece gives you the gorgeous look of a classic diamond for a price you simply can't beat.

Charles & Colvard Signature East-West Radiant Engagement Ring

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Striking and sophisticated—just the way we like it! This dazzling three-stone ring features a unique east-west radiant cut on a white gold band.

Bario Neal Half-Moon Dyad White Sapphire Ring

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Inspired by the moon, we love how this one appears as if two half-moons are connected to one another. Contemporary and undoubtedly show-stopping, this bezel-set 14k yellow gold ring features two beautiful white sapphire stones.

My Story 14k The Julia April Birthstone Ring

This is such a sweet and dainty spin on a classic solitaire with a pavé-set diamond band. Set in 14k yellow gold, we love the look of the elongated center stone.

Doyle & Doyle Art Deco Diamond Engagement Ring

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This ring just screams vintage charm. For the bride with an old soul, we found the most exquisite piece that is bound to inspire you. Featuring a round brilliant-cut diamond and hexagonal-shaped mount, this art deco–inspired masterpiece speaks for itself.

Après Jewelry The Triple Rose Cut Ring

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Three stunning rose-cut stones are nestled together on this thin and minimalistic band. Available in 10k and 14k yellow, white, or rose gold, pick the piece perfect for you.

Allurez Diamond & Blue Sapphire Single Row Engagement Ring

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Whether you choose all white diamonds or alternating colored stones, this stunner is sure to sparkle. Set in your choice of 14k or 18k white, rose, or yellow gold, the options are endless.

Jade Trau for Signature Forevermark Diamond Ring 18K

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Style it in a stack or slip it on solo, there's no wrong way to wear this handcrafted 18k yellow gold ring. This piece features a uniquely shaped band and solitaire diamond.

Ritani Vintage Diamond Accent Engagement Ring

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Adorned with an intricate diamond band, this vintage-inspired engagement ring flaunts the look of a marquise-shaped center stone. You may or may not ever stop staring at your hand.

Sofia Zakia Diamond Cosmic Witch Ring

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We have one word: wow. Incredibly romantic and magical, this rose gold band is encrusted with delicate diamonds and lunar-inspired detail.

Keyzar Oval Dainty Moissanite Engagement Ring

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A moissanite stone is perfect for the bride on a budget who doesn't want to miss out on blindingly brilliant sparkle. This stunner does just that. Featuring a striking oval center stone, this piece is set on a delicate customizable band.

Vrai Mixed Cuff Ring

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Effortlessly wrapping around the finger, the Mixed Cuff Ring features two diamonds of different shapes. With your choice of a 14k yellow gold or white gold band, you can't go wrong with any of the choices.

Loop Morning Light Ring

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Get creative with this one! From white, champagne, or black diamonds to an array of different metals, you can truly make this piece your own. No matter which one you choose, a stunning halo of shimmer encompasses a round center stone on a pavé band.

WWAKE Demi-Paired Diamond Ring

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Six pretty little diamonds glimmer on a simple customizable band. Wear it alone or pair it with other pieces, the versatility of this stunner ensures its enduring beauty.

Brilliant Earth Six-Prong Petite Comfort Fit Engagement Ring

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It's safe to say that this piece is bound to stand the test of time. This timeless diamond solitaire is available in an array of stone shapes and types of metals.

MollyJewelryUS Oval Moissanite Engagement Ring

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Another oval-shaped moissanite stone demands all of the attention in this nature-inspired piece. With an array of metals to choose from, customize this ring not only to your style but also your budget.

Vrai The Signature Ring

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Customize this gem to your style—and your budget! Starting at just $890, Vrai's Signature Ring allows you to select from a wide array of cuts and metal options. We're obsessed with this pear-cut solitaire set on an unadorned 14k rose gold band.

Capucinne Simple Morganite Ring

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An elongated morganite center stone sits pretty on a pavé-set customizable band. While it may be dainty, this piece makes a statement!

Vrai Bezel Ring

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This is what minimalist dreams are made of. A stunning bevel-set diamond is encompassed by a 14k yellow or white gold band. Need we say more?

Kay Jewelers Diamond Engagement Ring

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Hello, sparkle! We're loving this pavé-set diamond band featuring an emerald-cut center stone. The best part: that incredible double halo.

What to Look for When Choosing an Affordable Engagement Ring


Just because you're on a budget doesn't mean you should have to sacrifice any sparkle. With or without a diamond, it's possible to flaunt an affordable engagement ring that still turns heads. "For decades, the diamond has been the premier option for engagement rings, primarily due to its suitability for everyday wear," explains Kanary. "However, there are other stones that can be more affordable, aesthetically pleasing, and durable enough for an engagement ring," she assures.

"Morganite is an excellent alternative stone that can be more budget-friendly. Gems like spinel, sapphire, and ruby are also among the more durable gemstones, and while some varieties can command high prices, you can find a variety of colors and styles that fit a more modest budget," says Kanary.


Thankfully, when it comes to your setting, there are clever alternatives that cut costs while still achieving an almost identical look. "The most important aspects to a setting are that it is strong enough to hold your stone and that it is aesthetically pleasing to you," Kanary states. "Some of our favorite options for affordable settings are rhodium-plated silver and 18k yellow gold over silver, both of which provide a luxe look while being cost-effective."

"If you're looking for more affordable jewelry that will last, we recommend gold-plated items. You can have a durable metal core with a fine gold exterior—all of which provide an expensive look but are cost effective and simple to maintain over time," suggests Kanary.


Opting for a minimalistic band grants you more freedom to indulge in a bigger or more eye-catching stone. Or, if you're looking to make the band more of the focal point, consider textured bands, split shanks, or less-expensive gemstones for extra embellishment.

"Typically, most people enjoy coordinating their bands to the engagement ring setting, so this would often mean matching metal types and colors. One way to reduce costs is to find an all-metal band without gemstones, or you could choose a mined diamond alternative, such as synthetic moissanite and lab-grown diamonds," Kanary says.


  • How much should an engagement ring cost? "The traditional convention that many people hold to is to spend the equivalent of three months salary. However, conventions are constantly changing, so prioritize a budget that is within your comfort level," assures Kanary.
  • How can I make a diamond engagement ring more affordable? "If your heart is set on a diamond, but you want to maximize your budget, you may want to consider lab-grown diamonds over mined diamonds. Lab-grown diamonds are chemically, optically, and physically the same as mined diamonds," Kanary states.
  • How can I ensure an affordable engagement ring is high-quality? Purchase from a reputable jeweler, and ask yourself: Have I done my research. Do I trust this retailer? Does the retailer provide educational resources and disclosures? Am I able to return the ring if it's not exactly what I want? "Ultimately, the most important question to consider is whether you will love and cherish your potential ring," Kanary says. "And if that's a yes, then go for it!"
  • What are the best inexpensive stones that emulate a diamond? "Synthetic moissanite is an excellent alternative to a diamond because of its physical properties. Moissanite offers a more affordable price point, but it still requires a modest budget to invest in a high-quality piece. Additionally, white zircon is a natural gemstone that imitates a diamond visually in its colorless nature and high dispersion," explains Kanary.
  • Can I add stones to my engagement ring later? "With a good jeweler, you can do almost anything!" assures Kanary. "You may need to sacrifice some style designs depending on how much you want to add or change, but if you are looking for a simple stone swap, that can be done very easily as long as the stone has similar dimensions. Adding side stones is also a fairly simple task for a jeweler."

67 Gorgeous Engagement Rings Under $2,000

The 31 Best Affordable Engagement Rings of 2022 (2024)


How much is the average engagement ring in 2022? ›

How Much Should an Engagement Ring Cost? A one carat engagement ring typically costs around $5,500, but most couples spend over $6,000—and 7 percent spend over $10,000.

What is the most popular engagement ring shape 2022? ›

Oval Shapes

Oval-shaped diamonds have seen a boom in popularity and will only continue to gain momentum in 2022.

What is considered an affordable engagement ring? ›

General Rule: You should spend at least 2 months salary on the engagement ring. If, for example, you are making $60,000 per year, you should spend $10,000 on the engagement ring.

What are the most popular engagement rings now? ›

The most popular diamond cut for engagement rings is round brilliant. Round brilliant-cut diamonds are the quintessential sparklers due to their outstanding light performance and universal shape that works in an endless number of setting styles.

How many carats is normal for engagement? ›

According to a study done by The Knot in 2021, the average engagement ring diamond was 1.5 carats. 50% of those who participated in the study purchased rings between 1 and 2 carats. Only 25% of rings were over 2 carats. In this study, they found that diamond size was not as important as the cut and shape of the stone.

How many carats should an engagement ring cost? ›

Average Engagement Ring Cost

The average center diamond size for an engagement ring is between 0.8 and 1.2 carats. A one-carat diamond engagement ring costs an average of $5,500. 81% of Americans think the engagement ring shouldn't cost over $5,000, but the national average actually spent is over $7,000.

What engagement ring never goes out of style? ›

Gold is a timeless, traditional option for engagement rings. At one time, yellow gold was the standard for engagement and wedding rings, but in the mid-90s, it went out of style. That's when white metals, like white gold and platinum, became the popular choice for modern brides.

What shape diamond holds the best value? ›

Since a round diamond is thought to hold the most value when compared to the other shapes, it will almost always be given a higher price than any other shape with similar clarity, color, and carat weight.

Which shape diamond looks the biggest? ›

The four shapes that look the largest per carat are (in order of which looks the largest): marquise, pear, oval, and emerald diamonds. Among these shapes, oval diamonds are a top choice among those who want a classic-style engagement ring, yet want to maximize the size of their engagement ring's center diamond.

How do you buy an engagement ring on a budget? ›

Buy an Engagement Ring on a Budget
  1. A Diamond Certificate Doesn't Tell You the Whole Story. ...
  2. A Diamond's Cut and Shape Come First. ...
  3. Choose a Diamond With a Clarity and Color Grade that Looks "Clean" to the Naked Eye. ...
  4. Good Polish is Good Enough. ...
  5. White Gold is a Great Alternative to Platinum.

What is the classiest diamond cut? ›

The marquise cut is the ultimate in elegance. Its oval shape meets in pointed ends, resembling the hull of a ship — this cut is also known as the Navette cut (meaning "little boat" in French). In addition to being unique, this cut is also great for someone looking to create the illusion of elongated hands.

What is the most popular carat size for engagement rings? ›

According to our study, the average engagement ring size is 1.5 carats. Roughly half of all engagement rings fall between 1 and 2 carats, with just 25% of rings sizing above two carats.

What carat diamond is most popular? ›

1.00 Carat

Because it's the most popular weight, diamonds experience a price jump at 1.00 ct. The price jump is especially high for round diamonds, and, at this weight, you'll get the most savings by choosing a fancy shape.

What's a decent carat size? ›

Tip #1: Standard & Average Sizes

The 1.0 carat center stone used to be the most desired size chosen for engagement rings, however, more recently we are seeing this shift towards a slightly larger stone, with couples choosing diamonds averaging 1.25 to 1.50 carats.

What size diamond do most people buy? ›

United States – On average, the consumers in the US opt for diamond sizes around the 1.0 carat mark. However, an increasing number of people seem to be opting for stones just under 1.0 carat (we'll discuss why this is a good idea further down). Most Americans spend approximately $6500 for their engagement ring.

Is a 2 carat diamond considered to be big? ›

Is a 2 Carat Diamond Considered to be Big? The average carat weight for a diamond engagement ring is about 0.9 carat, meaning a 2 Carat Diamond is definitely considered big. With 2 carat engagement rings, the diamond is noticeable and eye-catching.

Is it worth getting a 1 carat diamond? ›

A 1 Carat engagement ring is, however, more than enough to catch the eye. An eye-clean 1 Carat diamond with an excellent cut can be extremely valuable, and a stunning choice for an engagement ring.

What is the 3 month salary rule? ›

It's known as the "three months' salary" rule, and it implies that a buyer should put three months of their salary toward a sparkler for their future spouse. For context, The Knot 2021 Jewelry and Engagement study found that the average cost of an engagement ring in the US is $6,000.

How much should a 2.5 carat diamond cost? ›

Below you can see an example of our 2.5 carat diamond price chart for round diamonds. The average price for a 2.5 carat diamond is roughly $47,000 at the time of this writing (March 2022).

Will diamond prices go down in 2022? ›

After a peak in the warmer months, prices will begin to fall, eventually stabilizing just in time for holiday buying. The exception to ever-rising diamond prices is with lab-grown stones. With plenty of supply on-hand, lab-grown diamond prices will continue to drop.

How much is a diamond worth 2022? ›

Updated Thursday, September 1, 2022, diamond prices moved LOWER by an average of 1.3% in August 2022. The average price per carat of all diamonds in our database was $12,665.44, down from $12,835.09 a month ago. Less than 0.50 ct. 0.51 to 0.99 ct.

Is $5000 enough for an engagement ring? ›

Yes, you can definitely get a nice engagement ring for $5,000 that often includes a 1 carat diamond and a solitaire, pavé, halo or side-stone setting. There are several styles, designs and settings available that can be paired with a loose diamond to fit within a $5,000 budget.

Is $1 000 enough for an engagement ring? ›

With a budget of $1,000 or less, you'll be looking at diamonds in the range of 0.40 to 0.60 carats. This may sound low, but it's definitely enough to make a gorgeous ring.

Are lab created diamonds as good as natural? ›

Lab Grown Diamonds are just as real as diamonds that are mined from the earth. They have shape, size, color and clarity grades, just like Natural Diamonds. Both Natural and Lab Grown Diamonds have the same physical and chemical properties and both come with diamond certifications.

What diamonds increase in value? ›

What ultimately makes a good investment is a diamond that is very rare. The larger the diamond, the rarer it is in nature, so high carat weight is one way to find a rare stone. But perfect color and clarity are also rare, no matter the size of the stone.

Do diamonds ever lose their value? ›

Depreciating Asset. Like a car, a diamond is a depreciating asset since it loses a large portion of its value the second you buy it. Think about gold and silver. The market for them is very liquid and fungible since you can store coins, sell them at any time or even trade them later on.

What is a 1ct diamond worth? ›

According to, a 1 carat diamond costs anywhere between $1,300 and $16,500. However, a quality diamond doesn't just come down to size. When assessing diamond value, four very important factors are always taken into consideration – the four c's of diamond quality: color, cut, clarity and carat.

How much is the cheapest diamond? ›

Rule of thumb: A 1-carat diamond can cost as low as $2,000 and as high as $25,000. That means a middle-of-the-range diamond should be $11,000 - $12,000. Sounds simple, but that is overpaying. A good value, good quality 1 carat diamond should cost you around $4,500 - $6,000.

What is considered a large diamond? ›

Generally, anything above two carats is considered large for a ring, although some of our favorite celebrities like Mariah Carey and Lady Gaga have been seen sporting much, much larger rings. That being said, most women probably wouldn't want to wear massive rings every single day.

What is the 3 month salary rule? ›

It's known as the "three months' salary" rule, and it implies that a buyer should put three months of their salary toward a sparkler for their future spouse. For context, The Knot 2021 Jewelry and Engagement study found that the average cost of an engagement ring in the US is $6,000.

What do most guys spend on an engagement ring? ›

Average Engagement Ring Cost

While $6,000 is the national average cost of a ring, the spend per couple varies. Our study found that roughly one-third of all respondents are spending between $1,000 to $4,000 on their engagement ring. In fact, 8% of ring shoppers are spending under $1,000.

How big of a diamond can I get for 1000? ›

0.50 Carats

Half-carat diamonds are a popular choice for engagement rings. With a diamond budget of about $1,000, you can find a half-carat round with great performance.

What size diamond can you get for $2000? ›

With a total budget of $2,000, you'll be able to afford a good quality round diamond in the 0.65 to 0.75 carat range, provided you're willing to opt for a solitaire setting.

How much should a woman wedding ring cost? ›

Engagement rings cost more. But you'll need to add wedding ring costs to your budget if you're opting for both. On average, wedding bands cost about $1,100 for women and around $550 for men, according to one estimate from The Knot. But the ultimate price often depends on the metal you choose.

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