The Best Sleeper Sofas Under $500 — Transform Your Space With A Comfortable Yet Affordable Sofa Bed

Each product has been independently selected by our editorial team. We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms.
The Best Sleeper Sofas Under $500
Amazon

Shop ten top-rated sleeper sofas under $500 from Wayfair, Walmart, Amazon and more.

Arguably one of the best parts of having your own home or apartment is getting to play host to overnight guests of your own. And while there's something so exciting about the prospect of getting to open up your home to those closest to you, the task can also prove to be a bit of a hassle — especially when it comes to figuring out the sleeping arrangements.

Sure, you can pop out your handy air mattress and hidden linens, but the benefit to having a comfortable, more permanent sleeping spot is undeniable (probably for both you and your guest). Hence, the allure of the sleeper sofa. Even if you don't have an extra bed or unused corner of your home, sleeper sofas are exceptionally useful pieces of furniture because they can transform almost any room into an instant guest room. You can maximize any ordinary living room space with the help of a convertible sofa that doubles as a classic couch or pull-out bed for instant sitting, lounging, and sleeping

Ahead, we've found the best sleeper sofas to shop on a budget, from cheap convertible couches and sectionals to futons. All of our top-rated picks cost less than $500 and are much more comfortable than an air mattress. For more space-saving furniture, check out our picks from Amazon and shop the best mattress deals and bedding discounts to update your home. 

Seylow 81.5'' Faux Leather Convertible Sofa

Seylow 81.5'' Faux Leather Convertible Sofa
Wayfair

Seylow 81.5'' Faux Leather Convertible Sofa

This convertible sleeper combines a sleek design with a functional guest bed. It extends into a twin-sized bed that's an amazing deal for an extra sleeping space.

$916 $320

Shop Now

Mistana Aria 77" Round Arm Convertible Sofa

Mistana Aria 77" Round Arm Convertible Sofa
Wayfair

Mistana Aria 77" Round Arm Convertible Sofa

This linen couch features a multi-positioner, allowing you to easily convert from a sofa to a lounger to a sleeper with just a push or pull.

$757 $335

Shop Now

Novogratz Tallulah Sofa Bed

Novogratz Tallulah Sofa Bed
Amazon

Novogratz Tallulah Sofa Bed

The memory foam in this vintage-inspired futon will have you and your guests lounging in quality and style.

$630 $215

Shop Now

Barrientez 85'' Upholstered Sleeper Sofa

Barrientez 85'' Upholstered Sleeper Sofa
Wayfair

Barrientez 85'' Upholstered Sleeper Sofa

Available in four different colors, this sleeper sofa is perfect for when you have guests staying over.

$450 $410

Shop Now

Chloe Futon

Chloe Futon
Amazon

Chloe Futon

Chevron stitching adds an extra touch of chic style to this affordable sofa bed. Choose from any of the 10 seriously beautiful colors. 

$428 $330

Shop Now

Novogratz Brittany Futon, Convertible Sofa & Couch

Novogratz Brittany Futon, Convertible Sofa & Couch
Wayfair

Novogratz Brittany Futon, Convertible Sofa & Couch

Spice up your space with the retro vibe provided by this sleeper sofa. With its ribbed cushioned back, the sofa gives your body all the support you need to sit and relax for hours.

$805 $470

Shop Now

Perdue 81.5" Velvet Square Arm Convertible Sleeper

Perdue 81.5" Velvet Square Arm Convertible Sleeper
Wayfair

Perdue 81.5" Velvet Square Arm Convertible Sleeper

This sofa bed combines thick cushioning with tufted velvet, sleek arms, tapered wooden legs, and a vintage look. With a variety of colors to match your décor, this sofa can fit perfectly with a contemporary look, classic style, or more rustic-looking living space and offer overnight guests a perfectly comfortable place to spend the night.

$930 $416

Shop Now

Mercury Row 77'' Vegan Leather Convertible Sofa

Mercury Row 77'' Vegan Leather Convertible Sofa
Wayfair

Mercury Row 77'' Vegan Leather Convertible Sofa

Switch between a sofa and bed in seconds for overnight guests. The frame, seat, and back cushions are upholstered in faux leather, and they're stuffed with foam for a comfy spot to sit during movie night. 

Better Homes & Gardens Nola Modern Futon

Better Homes & Gardens Nola Modern Futon
Walmart

Better Homes & Gardens Nola Modern Futon

An affordable faux leather futon that's perfect for small spaces and unexpected guests.

$329 $224

Shop Now

RELATED CONTENT: