A traditional staple for lovebirds over the decades is Jewelry.  Every year, people spend wild amounts of money on Engagement Rings and Anniversary Gifts to show their significant other how much they love them.

According to the National Retail Federation, there is an expected $6.4 billion to be spent this year on jewelry in the United States.  With that much money, someone could buy 451 Small Hospitals, 28 of 32 NFL Franchises, or three pints of Ice Cream for every person in America.

How Much Money Are New Jersey Residents Expected To Spend on Engagement Rings?

The online diamond marketplace Rare Carat analyzed 22 million user purchases to find out what types of rings people are purchasing the most often and what states have been spending the most money on these Engagement Rings.

The research from Rare Carat found that New Jersey residents are not buying any cheap jewelry.  The Garden State is spending the third most money on Engagement rings, with an eye-popping average of $10,445 per ring.

The only two states ahead of New Jersey on this list are New York (spending $11,434 per Engagement Ring) and California (spending $10,582 per ring).

Compared to New Jersey and New York, their neighboring northeast states are spending thousands of dollars less on engagement rings.  The state of Pennsylvania is shelling out $7,995 per ring, and Delaware is spending slightly more money, $8,576 per ring.

People are spending thousands of dollars per engagement ring
Photo by Alyssa Hurley on Unsplash

Here is the full list of the Top Ten States That Are Spending the Most Money on Engagement Rings:

1. New York: $11,434 per Ring
2. California: $10,582
3. New Jersey: $10,445
4. Connecticut: $9,744
5. Massachusetts: $9,636
6. Nevada: $9,458
7. Florida: $9,298
8. Texas: $8,915
9. Illinois: $8,801
10. Rhode Island: $8,787

So if someone can afford to spend that much money on an Engagement Ring, maybe they can also pay for one of these expensive houses located in New Jersey:

Some of the Best Homes for Sale in New Jersey...If You Can Afford Them

This list of ultra-luxury homes for sale in New Jersey offers something for everyone- assuming you can afford the price tag.

Gallery Credit: Steve McKay/Townsquare Media