9 Of The Best Sleeper Sofas Under $500 In 2021

Looking for the best sleeper sofa under $500? Well, your search is over because that’s what this guide is all about.

Have you ever felt embarrassed when you couldn’t properly serve your overnight guests due to a lack of beds? I know. That’s a next-level embarrassment. 

As humans, we don’t want to return our guests or make them sleep on the floor, primarily because of the lack of beds. But what if you don’t have enough space to place a couple more of them? 

This is where the sleeper sofas come in. These innovative sofas can be turned into sleepers as required. Plus, they generally consume a shorter space and can be placed at small places like TV lounge, lobby, etc. 

Since there’s a TON of stuff in the market, making a wise decision becomes challenging. This way, people often get overwhelmed and are more likely to pick the wrong product that could cause big problems down the road. 

But don’t worry.

Because today, I’ve come up with 9 of the best sleeper sofas under $500 to help you WOW your overnight guests without breaking a bank. Plus, I’m also going to lay down a helpful buyer’s guide to assist you further.

Ready? Let’s dive in…

Reviews for the Best Sleeper Sofa Under $500

Let’s review each sleeper sofa to give you insights into the key features and pricing. 

1. Novogratz Palm Springs Convertible Sleeper Sofa

Best Sleeper sofa under $500

Here we’ve got a multifunctional piece coming at a budget-friendly rate of around $225. This mid-century modern design convertible sofa comes in linen stuff and looks quite comfortable at a glance. Unlike others on the list, this sleeper sofa lacks armrests, making it a highly simple and sleek sofa to buy.   

Do you know when we get mad with anger? When you sit on your sofa, and the cracking sound produces. Right? No one wants to waste bucks– especially not by buying unreliable products.

Thankfully, this Novograts sofa is crafted out of sturdy wood to ensure it can survive extreme weights. 

As the above image shows, the sofa is designed to look quite simple. Plus, there’s nothing technical in its converting process.

It got two reclinable backs that can be put flat and create a highly welcoming space for your overnight guests. 

Being a pretty sleek sofa, it’s considered perfect for people who love punches of the 1950s. Yeah, it looks like over 70-year-old sofas, but it isn’t that bulky, thankfully. Another marvelous stand of the manufacturer is taking care of making the legs sleek as well.

You get tapered wood legs that are reliable and small at the same time. Plus, the sofa packs in a variety of colors to suit your furniture’s color combination.

After extensive research and churning out customer reviews, I’ve got to know that there are a couple of problems with this Novogratz sofa.

Firstly, people are found to complain about its comfort level. Yeah, sitting doesn’t require that solace.

But how can you sleep on a rocky place? The official reviews that the stuff is quite challenging and makes it impossible to sleep on it. Secondly, there’s the “slipping” problem.

The sofa is relatively stable with almost all types of floor materials unless it is wood. Yes, unfortunately, many users seem to complain that it isn’t stable on a woody floor. 

Pros
  • Affordable price
  • Simple & sleek design
  • Easy-to-use
  • Reliable woody structure
Cons
  • Not very comfortable
  • Not stable on the woody floor
  • You can feel springs working

2. Sofa Bed Convertible Couch Sleeper Multifunction Fabric

Best Sleeper sofa under $500

So far, the most comfortable sleeper sofa, coming at a great price value, is this multifunction futon. Despite an exquisite design, sturdy structure, and highly adjustable backrests, it comes at a cheap rate of $307. Though not a fit for tiny places, this sofa will make an excellent match for tall people. 

Thanks to the manufacturer who has managed to craft this sofa out of reliable and comfortable materials to ensure it can survive longer.

Along with the complete modern sofa, you get a small pillow to match the color (and stuff) and take your comfortability experience to the next level.  

Right after watching this sofa, I asked myself, “Who would give such a sleeper sofa to an overnight guest rather than enjoying slumber on it himself.” Maybe, you may have thought the same. Either way, let’s come to the convertible characteristic. 

This sleeper comes with two sides of the backrests, and both can be adjusted in 3 different ways; upright position, recline, and flat position. The 95-degree palm rest is suitable for reading or watching TV, 135 -degree for a nap, and 180-degree is simply a bed. 

For better stability and higher reliability, the company has put three woody legs on each side. This way, the sleeper sofa can accommodate up to 3 people at once and can easily bear over 500 lbs.

Unlike some others on the list, assembling it isn’t technical at all. But still, the company gives you the option to contact their customer support. 

Pros
  • Affordable pricing
  • Can accommodate three people at once
  • Fit for the tall
  • Multiple positions for backs
  • Reliable structure
Cons
  • It consumes a lot of space

3. Sofa Bed Convertible Folding Modern Armless Couch

9 of the best sleeper sofa under $500

Here we’ve got another highly premium sofa to WOW your guests. Not just highly reliable, this sleeper sofa packs various features that qualify its existence.

The sofa comes in a dark khaki color. It is made up of wood, metal, and fabric to give you excellent comfort and reliability besides an under-budget price of $270. 

Thankfully, you can independently control both backs of this sleeper sofa. Plus, there are 3 different backrest positions to suit your mood and needs. The sofa comes with an armless design making it look quite simple.

There’s a brilliant click-clack mechanism that lets you elegantly turn it into a complete bed and warmly welcome your overnight guests. 

Do you know the biggest problem with such sleeper sofas that consume less space? The exciting part is, not everyone can understand this hassle.

It’s when tall people don’t seem to fit in and have to spend the whole night waking. The same is the case with this sofa. Being compact, it’s a fit for adults under 5.8”. What will 6 ft tall (as I) do?

The versatility and small design of this sleeper sofa make it a fit for small places. You can easily place it anywhere like a lobby, TV lounge, game room, or wherever you want a convertible sofa.

Plus, it becomes exquisite with the fabric fusion and looks worthy of spending a whole night. 

If you want an armless sleeper sofa to fit somewhere small in your home without having to break a band, this is the way to go.

Pros
  • Compact armless design
  • Comfortable conversion
  • 3 different backrest positions
  • Space-saving design
  • Elegant and reliable materials
Cons
  • Isn’t delighted for sleep
  • Quite heavy-weight

4. Novogratz Leyla Sleeper Loveseat

9 Best Sleeper Sofa under $500

If you’re looking for an outstanding balance between high-end comfortability and affordability, this Novogratz Loveseat is the way to go.

This budget-friendly sleeper sofa comes with an elegant convertible design to suit your requirements. Not to mention the compact dimensions – making it a fantastic option for small places. 

We’re living in a modern age where the world has gone innovative. Today, innovation lets you do more with less.

The same is with space; you can place this innovative loveseat in an ordinary room and turn it into a required sleeper.

The turning process is quite simple yet comfortable. Just recline both arms, and that’s it. Enjoy your sleeping experience!

Drifting through the problem of lack of space but still want to buy a sleeper sofa and fit in as well? This incredible Novogratz sofa serves the exact purpose.

Packing with a 2-seat design and small yet sleek footprint, it is the best option for tiny houses, apartments, and condos.

Do you know what the most exciting part about it is? Well, it’s the inclusion of small magazine pockets on the armrests making it a perfect match for magazine lovers like me.

Another marvelous stand of the manufacturer is executing it strong enough to bear an extreme weight of over 400Lbs (118kg). So, welcome fatty overnight guests. 

After going through various official customer reviews and conducting extensive research, I pronounce this Novogratz sofa a reliable, budget-friendly, and comfortable option for small places.

Whether you live in a small canvas, apartment, or house, this Novogratz sofa WILL make a great fit.

Pros
  • Elegant design
  • Comfortable armrests
  • Strong build quality
  • Different colors
  • The inclusion of magazine pockets
Cons
  • Footprints aren’t very sturdy
  • Not ideal for tall people
  • Sitting capacity for 2 people only

5. Kingway Sectional Sofa Bed

9 Best Sleeper Sofa Under $500

In this fast world, everyone is looking for comfort and convenience. Speaking of spending time at home, this is a dream of a product. For people looking for comfort, features, compactness in a single package, this could be the best sleeper sofa under $500. 

One of the central and most essential features of this sofa is its multi-function nature.

The ability to work as a bed and a couch as per requirements make it a great choice and the best sleeper sofa under $500. Looking for the best 10 sectionals sofas under $1000.

Hats off to the designer, the innovative design of this sofa make it able to convert on either side, saving a lot of space.

A significant issue with multifunction sofa products is the time, tools, and power requirements for converting. This, however, is a very efficient product requiring seconds to alter without any special tools.

Taking a look at what the users think of this product, most feel it hard while accepting that it will get soft with usage.

Compactness is a factor that most people like making it the best sleeper sofa under $500. Simultaneously, its compactness makes it the perfect choice for a movie night or screening sports at home.

Pros
  • Easy to assemble
  • Small storage space included
  • Durable linen fabric
  • Highly comfortable
Cons
  • Size may not be suitable for some
  • Sidearms don’t perfectly line up
  • The base is not very strong

6. Mainstay Memory Foam Futon

Best sleeper sofas under $500

Mainstay memory futon looks relatively modern and stylish at a glance – an excellent match for intelligent people looking for fancy items for their home.

Despite an affordable rate, the sofa comes with versatile adjustment options to suit different needs. Plus, it can be easily turned into sitting, lounging, and sleeping positions. 

From a structural point of view, this foam futon packs an elegant and brilliant design that can be easily turned into a complete bed. Thanks to its woody frame and specially designed stainless steel legs that make it highly stable, regardless of the floor type you keep it on. 

Comfortability-wise, the futon stands out. You get skillfully designed faux leather stuff along with clean lines and button-tufted details that make it look relatively modern. Even customers are found to praise its comfortability and cannot leave their living room. In a nutshell, it’s going to be a bonus in serving your overnight guests. 

With its armless compact design, you can make it fit at tiny places as well. The company has manufactured it with small places in mind. Plus, the assembly of this sleeper sofa is also quite easy. There are a few simple steps to follow and that’s it. Your sleeper sofa is ready to serve you and your guests. 

Reliability-wise, this memory foam scores well. It comes with a sturdy frame of wood and strong legs made up of stainless steel. This way, your sleeper sofa becomes capable of bearing extreme weights and can accommodate 2-3 people easily. 

Pros
  • Stylish and modern design
  • Reliable structure and legs
  • Different backrest positions
  • Comfortable leather stuff
  • Remains stable on any floor
Cons
  • It seems a little bulky
  • It could be a bit cheaper

7. DHP Ivana Tufted Futon

Sleeper sofa under $450

With various finishes and colors, this tufted futon is designed to perform multiple functions and is ideal for small living places.

It comes with a quite clean and stylish finish making it look modern. The sofa comes with padded armrests that provide extra comfort but, at the same time, consumers a little more space.  

From the perspective of reliability, the sofa is designed to bear maximum weight and accommodate over 2-3 people.

With an incredible weight capacity of 600 Lbs, it’s not going to break for years if used carefully. The sleeper is supported by highly reliable wooden legs that keep it stable as well. 

What’s the MAJOR reason for buying a sofa? It’s the sophistication you’re desperately looking for.

So, how angry would you feel if you delivered a rock-ish stuffed sofa which even makes it difficult to sit on? But fortunately, this tufted tufon comes with velvet upholstery to provide you with the complete sophistication and smooth comfort you were looking for. 

Being a multi-functional sleeper sofa, both its backrests can be comfortably and independently put flat. Or you can either turn them into lounging positions besides sleeping and sitting positions. Furthermore, there is padding under the feet to protect your floor from scratches. 

SupposeSupposeSuppose you’re looking for a premium velvet sofa to provide you with the maximum sophistication and to let you offer your guests a highly comfortable place to sleep. In that case. In that case. In that case, this sleeper sofa is what you’re looking for. 

Pros
  • Comfortable velvet
  • Sitting capacity of 2-3 people
  • Various backrest positions
  • Quick assembly
Cons
  • It isn’t very affordable
  • Button-tufting can be irritating

8. Ashley Alenya Queen Size Sleeper Sofa

Sleeper sofa under $500

Want such a sofa that can be turned into an almost full-sized bed? This Ashley alenya Queen size sleeper sofa is going to be a fit.

Though its converting process isn’t that convenient, it comes with a big mattress and fantastic box cushions. Not to mention the comfortable track arms taking your sitting experience to the next level. 

Unlike some others on today’s list, this sleeper sofa isn’t very compact and requires a more significant place to fit in. It is crafted in a way to accommodate over three people easily. As mentioned, the sofa includes a cozy innerspring mattress that sits atop the metal frame. Top ten best Twin mattresses under $200.

Assembly is often the most challenging part of getting a large product. You have to take care of all the screws, putting the pieces together, and whatnot? However, you’re provided with detailed instructions to do things right. 

Reliability-wise, it stands out. The sleeper is made up of polyester and nylon blend to provide you with maximum comfortability. This sleeper sofa is doubtlessly the best sleeping place to offer your overnight guests and make them ask where you got it from. 

Another marvelous stand of the manufacturer is free cushions to take your sophistication to the next level. The sofa comes in different colors along with other (yet attractive) color combinations with the pillows. 

Thankfully, this sofa comes from a trustable furniture brand known as Ashley furniture industries. Though the price isn’t meager, it’s a great deal of comfort overall. 

Pros
  • Multiple colors
  • Reliable frame
  • Multifunctional convenient design
  • Inclusion of box cushions
Cons
  • Not budget-friendly
  • Assembly is a bit technical

9. Best Choice Products Convertible Sofa Bed

Best Sleeper sofa under $500

Are you looking for a great combination of high-end functionality and affordability? Consider this convertible sofa bed.

Despite a highly affordable rate, it packs with a skillfully crafted multifunctional design besides a premium-looking body. Plus, you get a modern and compact look to make a perfect match with small places. 

This sofa bed comes in various colors to suit your furniture color. Reliability-wise, the sofa comes with a sturdy frame along with top-notch and premium-quality leather to make sure it can survive longer. 

Its convertible design is quite elegant. Unlike others on the list, it comes with a single reclinable backrest that can be put in 3 different locations. The upright position is a fit for reading books, the lounging function for a calmful nap, and the flat place for enjoying slumber. 

Despite the affordable rate (around $160), this sleeper sofa comes with a highly comfortable leather to give you a tactile feeling and provide you with complete sophistication. However, it lacks armrests and, thus, isn’t that comfortable for sitting. 

Thanks to its faux leather upholstery finish, clean lines give it a premium and modern overall look. Plus, this sofa bed is highly durable with sturdy wooden legs and a strong metal frame. That’s how it can easily accommodate three adults without giving a cracking sound.

Pros
  • Affordable rate
  • Multifunctional design
  • Premium finish
  • Durable frame and legs
Cons
  • Everyone doesn’t like design
  • Not so elegant for sleep

Buyer’s Guide for the Best Sleeper Sofa Under $500

If you didn’t like any of the sleeper sofas we recommended, go through this buyer’s guide to make sure you don’t end up choosing the wrong product. 

Comfort ability

After all, getting comfort and sophistication is the ultimate reason for buying a sofa. Before you decide, make sure that the couch is comfortable to sit and sleep on. Otherwise, you may be delivered a bulky sleeper sofa that gives a rock-ish feeling when you sit on it. You can check 29 Best Cheap living room sets under $200,$300, and $500.

Now you may say, “how can I check out the comfortability level when purchasing online?”

I understand you cannot jump into Amazon storage through the screen. But what you can do is go through the official customer reviews present below each product on Amazon. 

Reliability

Do you know when you get mad with anger? When you’re exhausted, sit on the sofa, and hear the cracking sound. Believe me; you don’t want to buy such a sofa that cannot survive an average weight of 300-400 Lbs. 

After all, there may be kids at your home who’re going to play and jump on the sofa. Or someone weighty who will also enjoy that sleeper. So, there’s a desperate need to look out for a reliable product. Famous Best products reviews article, 10 Best cheap living room sets under $700 and $1000.

But gone are the days when you could easily reach the stores and test reliability. Online products don’t give you this facility. But again, customer reviews are the way to go.  

Space – Dimensions

What happens when you purchase a pair of shoes online and when they arrive, they cannot fit your foot size? I know. You get mad and aim never to make an online purchase again. The case with shoes is quite critical, but measuring the space you need for the sofa (dimensions) is easy for the couch. 

Before you make a purchase, read the product dimensions and make sure you can manage that much free space. 

Seating Capacity

What if you buy a sofa thinking that your entire 4-households and not more than two people could sit comfortably when it arrives? Hmm. You don’t want this to happen. So before clicking the “purchase” button, carefully read the instructions and description of the sleeper sofa. 

Most times, the seating capacity of sofas is mentioned. This will help you make the right purchase that suits your needs thoroughly. 

Arm Rests

Not all sleeper sofas come with armrests. Some include them, while others lack. In contrast, some armrests are fixed while others a reclinable.

When considering a product, remember both the aspects and make a purchase accordingly. If you’re desperately looking for a highly compact sofa, go for an armless one. 

Wrapping It Up

Since there’s an extensive list of sleeper sofas in the market, making the most suitable purchase becomes hard. This is how I sprang up with the idea of presenting over nine best sleeper sofas under $500 to help you make a wise decision without having to pay through the nose. 

I believe this article helped you find the most suitable sleeper sofa for you, your budget, and overall requirements. If it assisted you anyway, make sure to share it with others who seem to be confused about buying sofas because sharing is caring. 

So, which one of these best sleeper sofas under $500 did you like the most?