Contrary to popular belief, an engagement ring doesn’t have to be exorbitantly expensive to be beautiful and high quality. While they can be hard to find if you don’t know what to look for, there are many stunning, finely made engagement ring options that won’t break the bank. 

The key to finding a gorgeous, high-quality, budget-friendly engagement ring is to look for designs with the right materials. If you want a ring that will stand the test of time (and won’t tarnish or turn your finger green), you want to prioritize selecting a ring that’s made of precious metal. To maximize your budget, choose a yellow gold, rose gold, or white gold ring, rather than a ring made from an extremely expensive precious metal like platinum. Another way to maximize your budget is by being flexible with your choice of gemstones and product category. While engagement rings with high carat diamonds are always expensive, you can find a variety of budget-friendly rings that feature gemstones and/or smaller diamonds— especially when you expand your search to include both engagement rings and fashion rings that look like engagement rings. 

So, if you know what to look for, you can find numerous stunning engagement rings that will fit into a smaller budget. To further prove this point, below, we’re featuring some of our favorite affordable engagement rings. Every ring featured here is made from fine materials that will look beautiful now and for many decades to come. These rings are also all pre-set and complete, meaning their center stones and side stones are set and included in their listed price tag. Ready to find an affordable engagement ring you’ll adore? Here are the ten best engagement rings under $1,000. 


1. Floral-Inspired Diamond Halo Ruby Engagement Ring

14k White Gold Ruby and Diamond Engagement Ring ($839.00)

First up, we have this stunning ruby and diamond engagement ring. The star of this affordable engagement ring is its center oval-cut ruby, which radiates lush color within a floral-inspired diamond halo setting. This breathtaking centerpiece rests atop a slim 14k white gold band that boasts an elegant, slightly tapered design. 


2. Split Band Rose Gold and Diamond Ring 

14k Rose Gold Diamond Ring ($719.00) 

This rose gold and diamond ring is delicate, yet still utterly dazzling. This romantic ring is outfitted with a split upper band. One half of the band features a petite bezel set center diamond and beaded effect, while the other is covered in pavé diamond accents. This unique split band design makes it an eye-catching engagement ring option that can also double as a trompe l’oeil diamond bridal set. 


3. Cushion Shaped Diamond Cluster Ring 

14k White Gold Stackable Diamond Ladies Ring ($834.00)

Though its designer describes it as a stackable fashion ring, this Gabriel & Co. ring also works perfectly as a unique engagement ring. This design uses several size-enhancing design elements that amp up its visual impact. At its heart, four artfully placed round cut diamonds cluster together to create one stunningly shimmery centerpiece. These diamonds rest within a highly reflective, engraved white gold bezel setting that’s raised up off the ring’s distinctive textured band, helping the centerpiece look even larger.


4. Sapphire Diamond Halo Engagement Ring 

14k White Gold Sapphire and Diamond Ring

Get classic glamour on a budget with this blue sapphire and diamond engagement ring. This timeless design features a captivating oval cut center blue sapphire, which pops beautifully against a diamond halo setting. Additional diamonds adorn this ring’s white gold band, adding even more shimmer to this chic piece. 


5. Recessed Diamond Yellow Gold Band 

14k Yellow Gold Diamond Ladies Ring ($978.00)

If you’re a fan of trendy wedding band-style engagement rings, this recessed diamond band is a winning choice. This impeccably crafted design from Gabriel & Co. features five round cut diamonds set within a rounded 14k yellow gold band. A thoughtful detail, white gold diamond settings, helps these diamonds look whiter and brighter from within the yellow gold band. 


6. Pear Shaped Diamond Cluster Engagement Ring 

14k White Gold and Diamond Ring ($479.00)

This sleek, unique diamond ring is perfect for someone with an eye for modern design. Here, an array of delicate round diamonds are arranged in a pear-shaped setting. These diamonds rest together neatly at the tip of a curved white gold band, creating an elegant focal point of seamless brilliance. 


7. Strawberry Gold and Pistachio Diopside Ring 

14k Strawberry Gold Pistachio Diopside Ring ($899.00)

Lush and luxe, this gemstone ring from Le Vian makes a stunning alternative engagement ring. This design features a mesmerizing center stone: a deep green Pistachio Diopside. This 3/4 carat green gemstone is prong-set atop a split shank band crafted from warm 14k Strawberry Gold. Le Vian’s signature Vanilla Diamonds rest along each side of this ring’s band, adding a warm shimmer that makes this design look even more glamorous. 


8. Diamond Set Heart Shaped Engagement Ring

14k White Gold Diamond Engagement Ring Complete ($599.00) 

If you’re proposing to someone who’s a romantic at heart, consider this sweet heart-shaped engagement ring. This lovely design features a twisted band and a heart-shaped centerpiece crafted from 14k white gold. This center motif is adorned with delicate engraving and 1/12 total carats of diamonds, giving it beautiful detail that will make your love’s heart skip a beat. 


9. Pear Shaped Emerald Diamond Halo Engagement Ring

14k White Gold Emerald and Diamond Ring ($659.00) 

This emerald and diamond engagement ring has no shortage of glamour. Here, a pear-shaped emerald rests within a pavé diamond halo that echoes the center gemstone’s sophisticated shape. Additional diamonds shimmer on this ring’s slim 14k band, while touches of vintage-style milgrain adorn the ring’s halo and band. 


10. Engraved Rose Gold and Diamond Engagement Ring 

14k Rose Gold and White Gold Diamond Engagement Ring ($755.00)

Last but certainly not least, we have this beautifully crafted diamond engagement ring from Bridal Bells. This design features a cushion-shaped centerpiece set with 29 round cut diamonds. This dazzling, intricately detailed centerpiece rests atop a twisted, engraved 14 karat rose gold band that further enhances the romance of the ring’s design. 


Final Thoughts on the Best Affordable Engagement Rings 

Didn’t see your perfect ring in our selection of the best engagement rings under $1,000? Let us help you find the right engagement ring or wedding ring for your style and budget. Our full selection of fine jewelry features a range of affordable engagement rings, including princess cut diamond rings, marquise cut gemstone designs, black diamond styles, gemstone solitaire engagement rings, and rings featuring semi-precious gemstones like aquamarine and topaz. You can speak with one of our expert jewelers in person by visiting our showroom in Freeport or virtually by scheduling a virtual consultation appointment through our website. We look forward to helping you find your dream ring.