Is $5000 Good For An Engagement Ring?

$5000 is Perfect for a modest engagement ring. With a $5000 budget, you can use of ¾ or $3750 for the diamond and ¼ or $1250 for the setting. Factoring in the size and color of the diamond with the metal for the setting, you should be able to get around a 1 Carat diamond in a Platinum setting.

Of course, there are some additional things that will be helpful when choosing a ring. With $5000, your possibilities are quite decent. I put together a lot of research for you to dig through. Let’s dive into some more information to help you when thinking about your choice.

What Kind Of Engagement Ring You Can Get for $5000

With all this information you might be wondering what a $5000 diamond ring might look like. Following all the things that go into choosing a ring and diamond let’s take a look at what you could get. Remember to leave some money open for your ring and setting. Something like a quarter of it for the ring and the rest for the diamonds will work as well.

With your $5000 budget, a quarter of that set aside would be $1250. This leaves you $3750 for your diamond selections. Taking into account all the options from above let’s look at some rings you could buy.

Rings That Are $5000

Below are some great examples of rings you can buy that will be in your $5000 budget.

A Big Diamond and Great Metal Setting

This 1-carat marquise cut engagement ring with an 18k white gold setting is a great choice. You get quite a bit of diamond for the cost and the ring is truly beautiful. Also, the white gold really compliments the whole ring. Also, marquise diamonds look bigger than other shapes of diamonds.

Adding Color To Your Diamond, Lesser But Good Metal Setting

Another ring you could go with is this 1 carat radiant cut with side stones and 14k white gold. The blue stones add a touch of color set with that white gold to really create a stunning engagement ring. The radiant cut also adds a brilliance to it that is just gorgeous.

Durability and Beauty Diamonds With Strong Platinum Setting

If you wanted to go with a more durable ring than this 1-carat princess cut in platinum is a great choice too. The platinum setting gives you great durability without sacrificing the beauty of a nice chunk of diamond.

Smaller Diamond With Gold Metal Setting

A great gold choice would be this .80 carat round cut halo engagement ring. You sacrifice a few carats of a diamond to get a beautiful gold setting. The style and shape of this ring though I don’t think anyone will miss the other carats.

A Big Beautiful Diamond With A Cheaper Yet Gorgeous Setting

On the other hand, you could increase your carats while maintaining a beautiful metal that is less expensive. This 1.15 carat round cut rose gold ring is really pretty. Anyone who loves this warm color and diamonds would surely fall in love with this ring.

Any one of these five engagement rings is a great option that you could buy for $5000. Between the examples, you can see where you can get a heavier diamond if you choose a different metal yet you are not taking away from the ring being gorgeous. Just like if you go with a better metal setting a smaller diamond is still a great looking diamond. You still stick with your budget in both ways too.

What Ring Would I Choose?

I want to share with you the ring I would choose if I had $5000. There are areas you might have to sacrifice certain things but there are other areas where you won’t have to.

The diamond option I would choose

For the diamond, I would go with a lab-created diamond. We don’t get too caught up on natural versus created so I would personally save money here by going with the cheaper lab version.

As for my diamond shape and cut, I would choose the heart, this is because for me it is symbolic and as I give this ring my heart goes with it, sappy I know but still true.

The setting option I would choose

When putting a ring together I am a big fan of the channel setting style. My fiancée works with her hands all day so I want the diamonds protected, but I also want her to be able to see and love their brilliance. If I had to pick another I would go with the tension setting for the same reasons.

Platinum is a huge favorite of mine, it looks nice, compliments the diamond, and is durable, a perfect combination for someone who works with their hands and exposes the ring to potential danger all the time. Platinum is also the best metal for an engagement ring

Ring Option 1

Now with all that said, here are some rings I found, a 1-carat princess cut channel set platinum ring. Sure it does not have everything I would prefer but it has enough for the price and will be just as beautiful. I personally don’t mind sacrificing my favorite cut, or anything else as this ring to me is truly beautiful and would be perfect for my budget.

Ring Option 2

A very close second would be this 1.01 carat round cut side stone engagement ring. It is still set like a channel like a setup and would be low profile enough that she could wear it all the time and not catch it.

Here are a few more modest 1 carat engagement rings that are right around $5,000.

Even though both rings don’t have all my preferences they are still beautiful and would be perfect for us. In the end, sticking to my budget while still getting a gorgeous ring for the love of my life is all I would care about. For $5000 I would be very happy with my choices.

How Big Of A Diamond Can You Get For $5000?

Now that you know what rings you could get and ones that I would choose let’s talk about just diamonds for a second. Diamonds can come in various colors, shapes, and sizes so when choosing one for a ring it can become a little tough to decide.

When choosing a diamond the two most important factors to pay attention to would be a diamond’s clarity, and its carats or weight.

Diamond Clarity And Weight

You could take a portion of your $5000 budget and focus only on a diamond which is fine but when choosing a diamond there are a couple of things to look for. The clarity which is how clear or clean the diamond looks and then of course the carats of the diamond.

Basically the “cleaner” the diamond looks the more expensive it will be. The same goes for the more carats or weight. This is important because you might be able to get a very clean flawless diamond but one that is not as big. On the other hand, you could get a bigger carat such as 1.5 carats but the diamond isn’t quite as clear.

Both routes can carry a lot of weight when choosing an engagement ring. By balancing or choosing different sizes, and clarities you can still get a diamond that fits your budget and that you’ll be proud to present to your love.

There are a couple of other factors such as color, and the cut but really following these first two examples can yield a great looking stone that fits within your budget.

Examples of Diamonds

To help give you a visual of the diamonds you could afford to get within your budget I will include some examples. I will list some links down below to three great examples that fit our budget and still allow room for your metal setting. This way you have a great starting point should you want to go a different route with your ring.

This first example is a 0.70 carat round diamond. The clarity is pretty decent. The color is very nice and with the round cut, it would fit nicely into almost any ring style. This is certainly a great diamond to start with and is only $3000, leaving you plenty of money for the setting.

The next example is a 0.90 carat round diamond. With this one, you get a bigger diamond with decent clarity. The diamond doesn’t have perfect clarity by any means but it certainly has enough to become a great and beautiful choice. This diamond is on the higher end coming in at $3750 but offers more bang for your buck.

This final diamond is a 0.60 carat round cut diamond and for what it lacks in carats it more than makes up in beauty. Now this diamond is in the middle coming in at $3500 but its beauty and shine are incredible. Even though it is a smaller carat than the other two examples this one could certainly outshine them both. Sometimes it isn’t always about the size but the shine that matters.

Here are some other diamonds within the $3500 range. Overall, Our recommendation is to look around the 1-carat weight and don’t go any lower than a J in color or SI1 in Clarity.

Now that you have seen some great examples of the diamonds you can buy for a $5000 engagement ring you have a great foundation to start looking for your own or to buy one of the examples we have shown you. No matter what one you choose there is plenty of beautiful diamonds and engagement rings out there to buy.

How Your Setting Metal Factors In

Along with your diamond choices comes your other choice. The type of metal you choose will be a driving factor in the total cost of the ring. Remember you want to set aside about a quarter of your budget for this but you can certainly put back more. Below we will outline some of your metal choices and examples…

White Gold

When choosing white gold you can also choose how many karats you will get. Typically this will be 14k or 18k for a nice ring.

For 14k white gold, it will be less expensive because it is not as pure as 18k. This 14k White Gold Channel Setting is right in line with your budget.

On the other hand, going with 18k white gold is a great choice because you still get beautiful metal and can go with a better diamond. This 18k white gold cathedral ring is gorgeous and allows for more diamonds to be added.

If white gold is your goal then rest assured there are options that are both beautiful and affordable within your $5000 limit.


If you love the look of white gold but are worried about damage and the price then platinum is your best alternative. This platinum pave halo ring gives you all that beauty but comes with durability to last.

Platinum is also great because it is priced at a decent level allowing for fantastic metal and diamonds all in one. Also, it is less complicated because it has no karats to worry about, platinum is simply just platinum. See: Is White Gold or Platinum Better for Engagement Rings?

Yellow Gold

When it comes to yellow gold you are faced with similar choices as white gold. The two main options are 14k and 18k again so let’s look at both options.

This 14k yellow gold marquise ring is absolutely stunning. Yellow gold may run you either the same or a bit more than white gold due to its popularity. Yellow gold however is very popular and can fit nicely in your budgeted range.

An 18k yellow gold medley ring can get you a beautiful ring for less. In this example, the ring truly shows off the price difference by seeing those big diamonds fully facing out. If you are after more diamond but still want gold this is a great option to go with.

Rose Gold

The warmth and glow of rose gold is a favorite among some people. The nice thing about it is it only comes in 14k and is priced very moderately making it both beautiful, and unique. This rose gold marquise ring in my opinion is phenomenal.

This ring offers so much beauty and options for the price that if I had the money right now I would buy it. By going this route you get to have so many pretty diamonds set against a warm inviting metal that it really justifies its price point.

Take a look at James Allen’s Setting Picker to find one in the $1250 price range and a style you like.

Carl A. Jones, GIA GG

Carl A. Jones is a GIA Graduate Gemologist with over 20 years of experience in the diamond industry. He is an independent jewelry appraiser. He specializes in determining the value of diamonds and advising consumers on how to buy quality diamond jewelry.

You May Also Like