Depending on where you live the average engagement ring size will vary. The 1.0 carat center stone used to be the most desired size chosen for engagement rings, however, more recently we are seeing this shift towards a slightly larger stone, with couples choosing diamonds averaging 1.25 to 1.50 carats.

1.00 Carat Because it's the most popular weight, diamonds experience a price jump at 1.00 ct. The price jump is especially high for round diamonds, and, at this weight, you'll get the most savings by choosing a fancy shape.

Hailey Bieber's engagement ring is a solitaire oval-cut diamond set on a yellow gold band, which was designed by Jack Solow of Solow & Co.

One of the decisions to be made when considering the purchase of an engagement ring is how many carats should the ring be? The average according to The Knot (a research company and website for all things wedding) is 1 to 2 carats. There is no rule. Developing a budget is always a good place to start.