For many Americans, an engagement ring is one of the most expensive purchases they'll make in a lifetime. Though, given the rise of direct-to-consumer fine jewelers and mounting millennial debt, the traditional rule that a diamond ring should cost the rough equivalent of three months' salary may seem outdated.
Curious to know how proposal and wedding trends have shifted, The Knot polled more than 14,000 people about ring shopping, planning nuptials, and more. One of the most interesting findings? Apparently, the average American spends $6351 on an engagement ring. Business Insider then took it one step further by asking online diamond retailer Ritani to share data about the average ring cost per state. According to its findings, couples in Utah are the thriftiest, spending an average of $3518 on a ring, while California residents invest the most, averaging $10,241.
Here are some of the top findings:
North Carolina: $9225
New York: $8092
Want to know what the average person spends on an engagement ring in your state? Head to Business Insider for the full list.