Are Michiganders Cheaping Out on Engagement Rings?

• Rule No. 1: Don't pop the question unless you know the answer is yes.
  • Don't buy a cheap ring just because you know the answer is yes.

Proposing is an expensive venture. No matter what customs or backgrounds a couple comes from, a proposal requires a ring, and a satisfactory answer leads to a wedding. Neither of those situations are cheap.

Get our free mobile app

Nonetheless, even in an inflated economy where millions are struggling to make ends meet, engagement rings continue to be a lucrative market. On average, Americans drop $4,500 on an engagement ring.

Michiganders spend even less than that.

Shane Co. conducted a study on all things proposals, from when and why people pop the question to how much they are willing to spend on an engagement ring. The study ranked 46 states based on how much they spend on engagement rings and Michigan was near the bottom of the list.

On average, Michiganders spend $2,358 on an engagement ring, the 9th cheapest state in the country. For comparison, Massachusetts question poppers drop more than $10k on a ring, by far the highest price tag in the nation.

The engagement ring is still an important factor, and a $2,000 ring can still look quite nice. However, knowing your person is half the battle. For 27% of the people surveyed in the study, the ring itself was the most important factor of the proposal. Just as many people needed the whole thing to be a surprise.

Unsurprisingly, a "yes answer" was still the most important factor, at 44%.