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15 Best Cushion Cut Engagement Rings Under $5,000

For that once-in-a-lifetime event, you want to find a ring that has a gorgeous stone and an equally attractive design. If your budget is $5,000, we have curated a list of the top fifteen cushion cut diamond engagement rings for this price.

What to Expect for $5,000 or Less

At this budget you can expect to find diamonds around 1 carat. You will need to make a trade-off between color or clarity: for example, you can get a D color diamond, but it will need to be more included. If you really want to amp up the sparkle and stay within budget, supplement the center stone with a setting that has pavé diamonds.

Our Top Pick

Cushion-Cut Pavé Diamond Engagement Ring

1.01 carat Cushion cut Pave engagement ring IN 14K Rose Gold James Allen
Find this Ring at James Allen1.01 carat Cushion cut Pave engagement ring IN 14K Rose Gold © James Allen

We love the way this James Allen ring twists and turns. Getting it in rose gold – rather than yellow or white gold — is another unique touch. The diamond is a 1.01 carat, J color, VS1 clarity and a very good cut. The setting has 0.40 carats of diamonds that are G-H color and VS2-SI1 clarity. This ring is a great value for the price!

Best Cushion Cut Engagement Rings For $5,000 or Less

Cushion-Cut Pavé Diamond Engagement Ring

1.01 carat Cushion cut Pave engagement ring IN 18K White Gold
Fins this Ring at James Allen1.01 carat Cushion cut Pave engagement ring IN 18K White Gold © James Allen

A stunning 1.01-carat, G color, VVS2 clarity center stone with a very good cut graces the four-pronged crown of this beautiful pavé-style diamond engagement ring. This is a great contemporary design for anyone who works with their hands – the setting, with 0.17 carats in F-G color diamonds, is durable.

Cushion-Cut Solitaire Diamond Engagement Ring

1.00 carat Cushion cut Solitaire engagement ring IN 18K Yellow Gold James Allen
Find this Ring at James Allen1.00 carat Cushion cut Solitaire engagement ring IN 18K Yellow Gold © James Allen

A simple band set in dazzling 18K yellow gold sets the tone for this elegant ring. Contrasting the yellow gold band is an 18K white gold four-prong basket, which is grasping the 1.00-carat, H color, VVS2 cushion cut center stone with a good cut. This ring is perfect for the traditional buyer interested in a straightforward solitaire design but with a slight edge from the dual tone.

Cushion-Cut Halo Diamond Engagement Ring

0.95 carat Cushion cut Halo engagement ring IN 14K White Gold James Allen
Find this Ring at James Allen0.95 carat Cushion cut Halo engagement ring IN 14K White Gold © James Allen

This stunning diamond engagement ring features a traditional halo of smaller stones — you can snag a 0.90 carat, D color, SI2 clarity center stone with a good cut to keep this ring in budget. Adding to the ring’s glittering brilliance are 0.24 carats of pavé diamonds set along the sides of the ring’s shanks.

Cushion Modified Cut Halo Diamond Engagement Ring

1.20 carat Cushion Modified cut Halo engagement ring IN 14K White Gold James Allen
Find this Ring at James Allen1.20 carat Cushion Modified cut Halo engagement ring IN 14K White Gold © James Allen

A massive 1.20-carat, J Color, VS2 clarity cushion cut diamond with a good cut is the centerpiece of this vintage-style engagement ring. Further accentuating the ring’s design are 0.24 carats of G-H color pavé diamonds set along the 14K white gold bands. What is truly exceptional is the milgrain design running between the two lines of diamonds on each side of the band.

Cushion Modified Cut Halo Diamond Engagement Ring

1.01 carat Cushion Modified cut Halo engagement ring IN 14K Rose Gold James Allen
Find this Ring at James Allen1.01 carat Cushion Modified cut Halo engagement ring IN 14K Rose Gold © James Allen

Set in 14K rose gold, this piece features a 1.01-carat, G color, VVS1 clarity centerpiece diamond with a good cut, surrounded by a halo of smaller accent stones. This halo ring is a little more modern than the one above, if you want that extra sparkle with the vintage feel.

Cushion-Cut Solitaire Diamond Engagement Ring

1.00 carat Cushion cut Solitaire engagement ring IN Platinum James Allen
Find this Ring at James Allen1.00 carat Cushion cut Solitaire engagement ring IN Platinum © James Allen

A thick platinum band sweeps into a unique four-pronged basket in this marvelous piece. Four prongs clutch a 1.00-carat, F color, VVS2 cushion diamond with a very good cut. With the setting under $1,000, all of the money is in the center stone (at an estimated $4000).

Cushion-Cut Pavé Diamond Engagement Ring

1.01 carat Cushion cut Pave engagement ring IN 14K White Gold James Allen
Find this Ring at James Allen1.01 carat Cushion cut Pave engagement ring IN 14K White Gold © James Allen

This piece utilizes multiple design elements to create an impressive geometric silhouette. At the helm of the ring is a three-stone design centered by a 1.01-carat, F color, SI2 center stone resting within a four-pronged basket. Running on the sides of the ring’s 14K white gold hollowed bands are 0.66 carats of channel-set pavé diamonds that are G-H color. This piece runs slightly over $5,000, so if you want to stay within budget, try this stone instead.

Cushion Modified Cut Three Stone Diamond Engagement Ring

1.00 carat Cushion Modified cut Three Stone engagement ring IN 14K Rose Gold James Allen
Find this Ring at James Allen1.00 carat Cushion Modified cut Three Stone engagement ring IN 14K Rose Gold © James Allen

This delicate three-stone design stands out amongst other three-stone rings. Petal-shaped side-stones alongside a bright 1.00-carat, G color, VVS2 clarity center stone give the ring a unique floral appearance. Sweeping beneath the three-stone cluster is a 14K rose gold band, ending in an intricate basket that supports the ring’s stones. This ring is perfect for someone with subtle and classical style.

Cushion Modified Cut Halo Diamond Engagement Ring

0.70 carat Cushion Modified cut Halo engagement ring IN Platinum James Allen
Find this Ring at James Allen0.70 carat Cushion Modified cut Halo engagement ring IN Platinum © James Allen

Double platinum bands are the highlight of this sparkling halo diamond engagement ring. At the crest of the ring is a 0.70-carat, I color, VS2 clarity cushion diamond. Along the double band’s sides are 0.78 carats of pavé diamonds, with additional stones along the ring’s bridge and the modified prongs that reach into the halo. Given the intensity of the setting, you will need to get a smaller center stone to stay within budget.

 Cushion Modified Cut Side Stones Diamond Engagement Ring

1.01 carat Cushion Modified cut Side stones engagement ring IN 14K Rose Gold James Allen
Find this Ring at James Allen1.01 carat Cushion Modified cut Side stones engagement ring IN 14K Rose Gold © James Allen

Nothing makes a bolder statement than this modified square engagement ring. Set in 14K rose gold, the ring’s band features three accent stones on each side of the 1.01-carat, D color, SI1 clarity center stone. Its 14K white gold basket contrasts the rose gold band, completing the ring’s stunning dual tone design.

Cushion-Cut Halo Diamond Engagement Ring

0.30 carat Cushion cut Halo engagement ring IN 14K Rose Gold  James Allen
0.30 carat Cushion cut Halo engagement ring IN 14K Rose Gold © James Allen

A 0.30-carat pink diamond sits at the center of this exclusive piece. Ensconced within a halo of white diamonds, the pink center stone matches the ring’s 14K rose gold band. Adding to the ring’s alluring design are 0.31 carats of pavé diamonds set along its shanks.

Cushion Modified Cut Pavé Diamond Engagement Ring

1.20 carat Cushion Modified cut Pave engagement ring IN 14K White Gold James Allen
Find this Ring at James Allen1.20 carat Cushion Modified cut Pave engagement ring IN 14K White Gold © James Allen

This ring seamlessly combines classic with modern. A significant highlight of the ring is its floral basket, designed to mimic a flower’s petals. Resting inside the basket is a 1.20-carat, G color, VS1 cushion cut diamond with a very good cut. Along each of the ring’s shanks are two lines of 0.28 carats of pavé diamonds in G-H color separated by a thin strip of milgrain design.

Cushion-Cut Side Stones Diamond Engagement Ring

1.71 carat Cushion cut Side stones engagement ring IN 14K Yellow Gold
Find this Ring at James Allen1.71 carat Cushion cut Side stones engagement ring IN 14K Yellow Gold © James Allen

Multi-stone designs are an alternative pick for buyers looking for something different. This ring features a mix of diamond and sapphire side stones, set within a 14K yellow gold band.The floral basket houses a 1.71-carat, K color, SI2 cushion-cut diamond with a good cut. This is a much larger stone, but note the clarity and cut grades. Also, if you look at the close-up images of the stone, the inclusions are clear to the naked eye. We would use this setting with a smaller, higher quality diamond.

Cushion Modified Cut Channel Set Diamond Engagement Ring

0.82 carat Cushion Modified cut Channel Set engagement ring IN 14K White Gold James Allen
Find this Ring at James Allen0.82 carat Cushion Modified cut Channel Set engagement ring IN 14K White Gold © James Allen

This chunky ring features thick 14K white gold bands. On the outer face of the band are a string of channel-set pavé diamonds. The ring’s crown comprises four prongs, set deep within a thick bridged channel and housing a 0.82-carat, D color, VVS2 clarity center diamond with a good cut. This is a great ring for someone who works with their hands and needs durability.