Spending on Engagement Ring

Mega-Survey Reveals: Average Spending on Engagement Ring in US Up To $5,871 in 2015
Engagement Ring (Source: Fotolia)

Mega-Survey Reveals: Average Spending on Engagement Ring in US Up To $5,871 in 2015

The Knot 2015 Real Weddings Study, the largest survey of its kind in the US, has found some fascinating trends related to wedding spending. They survey includes almost 18,000 US brides and grooms married in 2015, and includes questions about the average cost of a wedding, who pays, how couples budget and plan for their big day, the average number of wedding guests and other statistics.

Engagement Ring (Source: Fotolia)

Engagement Ring (Source: Fotolia)

Here are some of the survey’s more interesting findings:

• The average spending on an engagement ring has increased to $5,871 in 2015, from $5,855 in 2014.

• Weddings continue to be one of the most expensive events in couples’ lives. The average wedding cost has increased by more than $5,500 in the past five years with couples spending $32,641 in 2015.

• The most expensive category in the wedding budget is the venue, on which couple spend an average of $14,788. The second most expensive item, at $5,871, is the engagement ring.

• 9 out of 10 couples hire a professional photographer.

• 26% of couples hire a professional wedding planner.

• 89% of couples report using their smartphone to help plan their wedding.

• The most expensive place to get married is Manhattan ($82,299), while the least expensive place to get married is Alaska ($17,361).

• The average marrying age is 29 for brides, 31 for grooms.

• New York City accounts for the country’s oldest brides, with Manhattan brides being 32.8 years old on average, and brides from the cities Outer Boroughs being an average of 32.2 years old. South Dakota and Idaho have the youngest brides (26 and 26.1 years, respectively), on average.

• Average number of guests is 139.

• The most popular months to get married are October (15%) and September (15%).

• 49% of couples were married 200 miles or more from where they lived at the time they were married, up from 21% in 2014.

• On average, the bride’s parents contribute 44% of the overall wedding budget, the bride and groom contribute 43%, and the groom’s parents contribute 12%.

• Couples from Toledo, Ohio, and Wyoming have the longest engagements (18.7 and 17.5 months, respectively), while couples in Utah and West Texas walk down the aisle a bit sooner after getting engaged (9.7 and 10.7 months, respectively), on average.

• As in 2013 and 2014, Nebraska and Iowa couples have the largest number of wedding guests (219 and 211, respectively), and couples who tie the knot in Hawaii and Nevada have the smallest number of wedding guests (71 and 74, respectively).

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