He gave me a ring budget

My boyfriend is my best friend and just the love of my life. Been together 5 years now. Been talking about marriage and decided to to look at rings together. Some people aren't into that (would rather be surprised) but we aren't those people lol

So we went to this jewelry store. I described my ideal ring simply because the jewler asked! I said I prefer white gold, wouldn't mind diamonds or gemstones, and that I wasn't a fan of princess cut and that I really like pear, cushion, emerald, round, and ascher. I think that is a very broad range and not terribly picky (for instance, I didnt go in saying it has to be yellow gold, 1 carat, solitaire, E, Minnesota mined yellow diamond - you know not a super specific ring!)

Well I gave some of my preferences and then my boyfriend said he doesn't want to spend more than $700 on a ring for me.

Which yes i know its money but not a crazy amount of money. I know it isnt the material aspect. It's the love that counts! But for a guy who makes 90k a year, I was hoping for a little more (I've found a lot of bridal sets in the $1000-1200 range)

I'm a little bit disappointed. Is it inappropriate to voice my concern to him? Or should I just leave it and settle for something else?