SC one of most expensive states to buy a wedding ring, data shows. Here’s why
Proposing to the person of your dreams is probably one of the most magical moments of someone’s life. It's probably one of the most expensive, too, if you live in South Carolina.
A new study, conducted by True Sanity, a luxury jeweler, analyzed average engagement ring costs against average monthly salaries across the United States to determine where rings take the biggest bite out of locals’ earnings.
Using data from the Bureau of Labor Statistics and World Population Review, the study shows that engagement rings don’t typically cost months of work and savings, but it may take extra time for lovebirds in certain states to afford a ring.
“This data highlights the regional differences in engagement ring affordability across the United States,” said Amit Jhalani, Founder of True Sanity. “However, the traditional guideline of spending two to three months’ salary on an engagement ring does not seem accurate in this case, as all states sit comfortably needing less than two salaries for an average ring.”
Here’s where SC ranks in the country for wedding ring affordability:
SC affordability ranking
South Carolina ranks fifth overall, with residents needing to work a lot of extra hours to purchase an engagement ring.
The average cost of an engagement ring in SC is $7,874, and the average monthly salary of a South Carolinian is $4,749.17. As a result, the average person would need to use 1.66 monthly salaries to purchase a ring.
These are the four states that are even less affordable than SC:
4 most expensive states to buy engagement ring
#1. Kansas
The average engagement ring cost in Kansas is $8,947, and the average monthly salary is $4,852.50. It would take 1.84 monthly salaries to purchase an engagement ring.
#2. Louisiana
The average engagement ring cost in Louisiana is $7,959, and the average monthly salary is $4,594.17. It would take 1.73 monthly salaries to purchase an engagement ring.
#3. Kentucky
The average engagement ring cost in Kentucky is $7,918, and the average monthly salary is $4,692.50. It would take 1.69 monthly salaries to purchase an engagement ring.
#4. Florida
The average engagement ring cost in Florida is $8,809, and the average monthly salary is $5,249.17. It would take 1.68 monthly salaries to purchase an engagement ring.
These are the most affordable states to buy an engagement ring:
5 most affordable states to buy engagement ring
#1. Utah
Utah is the most affordable state when it comes to buying an engagement ring. The average cost of a ring is only $3,184, and the average monthly salary is $5,330.00. It would take 0.60 monthly salaries to buy a ring.
#2. Maine
The average cost of an engagement ring in Maine is the same as it is in Utah, only $3,184, and the average monthly salary is $5,313.33. It would still take 0.60 monthly salaries to buy a ring.
#3. South Dakota
The average engagement ring costs $3,005 in South Dakota, and the average monthly salary is $4,623.33. It would take 0.65 monthly salaries to purchase a ring.
#4. Connecticut
The average engagement ring costs $4,261 in Connecticut, and the average monthly salary is $6,337.50. It would take 0.67 monthly salaries to purchase a ring.
#5 Delaware
The average engagement ring costs $4,106 in Delaware, and the average monthly salary is $5,636.67. It would take 0.73 monthly salaries to purchase a ring.