The average cost of a wedding last year exceeded $32,000 last year, up more than $5,000 from 2010. Receptions remained the biggest-ticket item, at just under $15,000. But with the cost now exceeding 50% of a couple’s annual income, guest lists are being pared, and more are opting for non-summer dates.
The average cost of a wedding, CNNMoney.com reported, rose to $32,641 in 2015— an increase of more than $5,000 since 2010, according to a new survey, based on almost 18,000 responses from brides who were married last year, that was conducted by wedding-planning website TheKnot.com.
With the median household income now at around $54,000, that means it’s not uncommon for couples to be spending more than 50% of their annual income on their wedding, CNNMoney.com noted.
A wide gap remains between the highest- and lowest-cost wedding locations, CNNMoney.com reported. Couples getting married in Manhattan are spending the most money—by far—at $82,299. The most affordable place to get hitched was Alaska, with the average wedding costing $17,361.
A complete list of average costs by geographic location can be found here: http://money.cnn.com/infographic/pf/how-much-does-a-wedding-cost-2015/?iid=EL
While overall spending is on the rise, CNNMoney.com reported, couples have been shortening their guest lists to try to keep costs down, at least somewhat. Last year the average wedding had 139 guests, down from 149 in 2009, bringing the cost per guest up 22% to $237.
Weddings in Nebraska and Iowa are the biggest in the U.S. with 219 and 211 guests on average, respectively, CNNMoney.com reported.
It also looks like summer’s popularity to walk down the aisle might be fading, again to possibly try to keep a lid on costs by selecting dates that are less in demand. More couples are now choosing to say ‘I do’ in October and September, CNNMoney.com reported.
The most expensive part of a wedding continues to be the reception venue, at $14,788, CNNMoney.com reported. The engagement ring was a distant second on the budget, costing an average of $5,871, up from $5,855 in 2014.
Brides are also spending more on their dress, at $1,469, while the groom’s attire rang in at $269.
Of the 19 wedding items tracked by The Knot, only one cost—for favors—dropped since last year, CNNMoney.com reported.
And while wedding traditions might be changing in the do-it-themselves era, the custom of getting parental assistance to fund the big day lives on, CNNMoney.com reported. Only 12% of couples paid for their wedding completely on their own last year, The Knot’s survey revealed.