Updated June 1, 2022

Best Engagement Rings for Under $2,000

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A $2,000 engagement ring budget gives you a lot of options. Even a 1-carat diamond ring is possible! Read on for smart tips to get the best ring for your buck.

Compared to the average engagement ring spend of $5,225, a $2,000 budget may seem modest. But you'd be surprised how much you can get!

You won't be able to get a multi-carat diamond, but you still have lots of options. It's also a chance to be creative.

Here are the best engagement rings for under $2,000 that look super luxe.

What Engagement Ring can You Get for $2,000?

If you want a diamond engagement ring, a lab-created diamond is the best option to get the biggest size stone possible. In this review, we'll show you how you can get a 1-carat diamond ring for less than $2,000.

If you're open to other alternatives, you can get a larger ring with a moissanite stone or another colored gemstone.

You also have more room to play with different styles for a ring with more personality - from solitaire to halo to vintage. Read on.

How much does a 1-carat engagement ring cost? You can expect to pay at least $5,000 - $6,000 for a good quality 1-carat natural diamond ring. However, if you opt for a lab diamond, you can get a 1-carat ring for $2,000.

Best Engagement Rings Under $2,000

Here are some gorgeous engagement rings you can get for less than $2,000. We'll show you some real examples and where you can buy or design your own similar rings.

1. One-Carat Solitaire Ring Under $2,000

Yes, a 1-carat diamond is possible on a $2,000 budget! To achieve that, opt for a lab-created diamond.

Lab diamonds every bit identical to real diamonds mined from the earth. But because they're grown in labs in large quantities, they can cost as much as 60% - 70% less.

Choosing a solitaire ring will allow you to get the largest diamond possible. Solitaire rings are simple so they're the most affordable. This lets you put most of your budget toward the diamond.

If you've got your heart set on a natural diamond, you'll only be able to get around a 0.5 to 0.6-carat stone (which is still a good size!).

What size diamond can you get for $2,000?
For natural diamonds, you can except to get a 0.5-0.6-carat diamond for $2,000. However, for lab-created diamonds, you can get a 1-carat diamond for $2,000.

2. Glamorous Halo Ring Under $2,000

Want something with more bling?

Halo rings are our favorites for making a huge impact on a smaller budget. This style has a ring of diamonds around the center stone. It's super sparkly and looks like one large diamond from further away.

What design do you like for your engagement ring?

3. Two-Carat Moissanite Ring Under $2,000

Are you all about size? Moissanite is the best option to get an impressively large ring without breaking the bank.

The average cost of a 1-carat moissanite is just $500 to $600. So with a $2,000 budget, you can get a 2-carat moissanite stone.

If solitaire is a little too plain for you, there are lots of other ring styles with more sparkle. But you'll have to downsize the stone.

Moissanite is a gemstone that looks just like diamonds, but actually came from space! It's affordable, very durable (second only to diamonds), and has major sparkle. Nobody even needs to know that it's not a diamond.

4. Unique Sapphire Ring Under $2,000

If you want something less traditional, sapphire rings are a great option. A colored gemstone will definitely stand out from the sea of white engagement rings.

5. Other Gemstone Rings Under $2,000

If you'd rather not design your own ring, a lot of retailers offer pre-set gemstone rings. This could sometimes come out to be a better deal than picking the stone and ring separately. You can get styles that you can't replicate yourself.

How to Shop for a Ring Under $2,000

When dealing with a limited budget, think about these questions:

  • What style of ring do you want?
  • Is the size of the stone most important to you?
  • Is your heart set on a diamond? Or is a diamond look-alike (like moissanite) okay?
  • Are you open to alternative gemstones?

Decide on what style of ring you want first. For most women, the overall ring style is the most important factor. Knowing the style will help you narrow down your choices.

For example, if you really want a halo ring that costs $1,200, then you only have $800 left for the stone. Then you can see what size diamond you can get for that amount. Or maybe you'll want to go with another type of gemstone to maximize the budget.

Tips to Save and Stay Within Budget

Here are some final tips to maximize your $2,000 budget.

Shop online
Buying an engagement ring online is perhaps the biggest money-saving move. Because there's less overhead, online jewelers can be 40%-50% cheaper than traditional brick-and-mortar stores.

Choose an alternative shape
Round diamonds are the most expensive diamond shape - costing as much as 40% more than other shapes. Plus, lots of other diamond shapes appear larger than round diamonds, giving you more size for your buck.

Consider a lab diamond
Lab diamonds can be as much as 60%-70% cheaper than mined diamonds. You can get a much larger stone on a smaller budget. There is no physical difference between lab and natural diamonds, so it's mostly just a mental hurdle.

Consider diamond alternatives
If you want something that looks like a diamond, moissanite is the best budget-friendly choice. If you like the idea of a non-traditional ring, there are lots of options for fun, colorful gemstone rings.

Choose a simpler setting
Anytime you add diamonds to the setting, the price will go up a lot. If you want the largest center stone possible, look for a solitaire ring. A thinner ring will cost less because there's less metal.

Opt for 14k gold
14k gold is the best metal choice to keep costs lower. It offers the best balance of price, quality, and appearance. It's also more durable than 18k gold. But the downside is that it may not work for super sensitive skin.

Downgrade color and clarity
You don't need a perfectly flawless and colorless diamond. For best value, look for eye-clean VS2 or SI1 clarity and H or I color diamonds.

But don't compromise on cut! Diamond cut is what makes the diamond sparkly. Aim for Excellent/Ideal cut if you can. A well-cut diamond will be brighter and look larger.

What matters most to you when buying a diamond ring?

Where to Buy Engagement Rings Under $2,000

Here are some trustworthy places to shop for affordable engagement rings.

James Allen: Biggest variety
James Allen offers a large selection of natural diamonds, lab-created diamonds, and gemstones. Their settings are also very reasonably priced.

You can design your own ring by cherry-picking your own stone and setting. Because of the large variety, you can easily find choices within your budget.

Charles & Colvard: Best Moissanite Rings
Charles & Colvard is the leading jeweler for moissanite. This is the best choice if you want a diamond look-alike at a much cheaper price.

Brilliant Earth: Best for Socially Conscious Shoppers
Brilliant Earth also has a lot of affordable lab diamonds and gemstones. They really stand out for their variety of loose stones, like morganite, aquamarine, and alexandrite. You can create something really unique.

See Brilliant Earth's inspiration gallery for recently purchased rings under $2,000.

Clean Origin: Best Lab Diamonds
Clean Origin only sells 100% ethical and eco-friendly lab diamonds. The prices for their lab diamonds are very reasonable, too.

Blue Nile: Best Gemstone Rings
Blue Nile offers a selection of affordable gemstone rings in elegant designs. You can even find good sales on certain rings.

Catbird: Best for Dainty, Unique Rings
Catbird is a popular woman-owned and operated jewelry store from New York. All their jewelry is entirely made in their Brooklyn studio. All materials used are ethically sourced or recycled.

Their beautifully designed rings offer a bit of luxury even on a small budget. Check out their selection of gemstone rings and champagne-colored diamonds for something one-of-a-kind.

Bottom Line

There are plenty of beautiful choices for engagement rings under $2,000. The important thing is to remain open-minded. If you're not set on a natural-mined diamond, you have lots of options for a larger or more unique ring.

Anna G is a contributing writer at CreditDonkey, a diamond jeweler comparison and reviews website. Write to Anna G at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

Best Place to Buy an Engagement Ring

Tips for Diamonds
Buying an engagement ring is a big decision and not just because of the cost. Whether you're looking for value, a huge selection, or sheer luxury, here's a list of the best places to shop for a diamond.
What matters most to you when buying a diamond ring?
33% Cut
13% Carat
20% Clarity
20% Color
13% Cost
Source: CreditDonkey. Totals may not add to 100% due to rounding.
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