Overspending on a Diamond Engagement Ring

When you set out to buy an engagement ring, you aren't just entering a jewelry store, you are entering a data set.

A massive study conducted by the industry experts revealed the true "cost of admission" for marriage in America. The findings are staggering: The national average spend has hit $7,765.

But as a businessman who has built nine-figure companies by identifying market inefficiencies, I don't see "luxury" in that number. I see a massive, unnecessary markup.

The Geography of Overspending

The Rare Carat data proves that your zip code dictates your price tag more than the quality of the diamond. If you are proposing in New York, the data shows you are likely looking at an average spend of $11,434. Across the country in California, that figure remains a high $10,582, while those in New Jersey are right behind at $10,445.

Even in states with a lower cost of living, the "Retail Tax" remains high. In Texas, the average is $8,915. In Georgia, it’s $8,551. Even in Oklahoma, where the average sits at $7,607, people are paying nearly 8x what it actually costs my son and me to source and set a world-class diamond.

Why the “Middle of the Map” is Still Overpaying

The markup isn't just a coastal problem. We looked at the data for Indiana ($8,467), Kentucky ($8,257), and Michigan ($8,020). In every single one of these states, the average spend is enough to buy a reliable used car or fund an entire year of a child’s college savings.

When you see a $7,171 average in Tennessee or a $6,873 average in New Hampshire, you are seeing the result of a bloated supply chain. You are paying for the "mahogany row" of middlemen—the wholesalers, the brokers, and the mall landlords.

The Mr. Jeweller Correction

At MrJeweller.com, my son and I have a different math. We source our Lab-Grown diamonds (Color F or better, Clarity VS1 or better) directly from the labs in India. We have no storefronts, no sales commissions, and as a successful entrepreneur, I have zero need for a salary from this venture.

We have deleted the overhead, so we can delete the markup.

Whether you are in Maryland ($8,373) or Mississippi ($6,554), our price for a world-class, custom 14k gold solitaire ring is significantly lower. We aren't "discounting" the ring; we are simply refusing to charge you for the inefficiency of our competitors.

The 2026 Average Engagement Ring Spend by State

New York$11,434

California$10,582

New Jersey$10,445

Connecticut$9,744

Nevada$9,458

Florida$9,298

Massachusetts$9,111

Texas$8,915

Illinois$8,801

Rhode Island$8,787

Virginia$8,754

Delaware$8,576

Georgia$8,551

North Carolina$8,524

Indiana$8,467

Maryland$8,373

Arizona$8,307

Washington$8,278

Kentucky$8,257

Louisiana$8,255

Arkansas$8,138

Michigan$8,020

Pennsylvania$7,995

Colorado$7,909

West Virginia$7,884

Ohio$7,838

Oklahoma$7,607

Idaho$7,604

Vermont$7,473

Missouri$7,278

Kansas$7,210

Minnesota$7,175

Tennessee$7,171

Alabama$7,054

New Hampshire$6,873

South Carolina$6,786

Nebraska$6,659

New Mexico$6,649

Mississippi$6,554

Wisconsin$6,546

Iowa$6,322

Oregon$6,017

Montana$5,551

South Dakota$4,923

The Bottom Line

If you are in Massachusetts ($9,111) or Arizona ($8,307), ask yourself: Is the mall storefront worth $7,000?

Because the atoms in the diamond don't care where they were bought. A VS1 diamond is a VS1 diamond. The only difference is whether you want to pay for a jeweler’s rent—or your own future.

Welcome to Mr. Jeweller where the math finally makes sense.

(Stats derived from nearly 40 million data points analyzed by Refinery29 and Rare Carat)