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

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The Best Sleeper Sofas Under $500

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. 

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


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


The faux leather sofa is a beautiful caramel color that will meld itself among most home decor. With a fast assembly time of 15 minutes, you can be lounging or sleeping in no time.


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


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.


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.


This sofa's convertible 3-click technology and modern split-back design let you easily adjust from sofa, lounger, and bed positions in one simple swoop.


Chevron stitching adds an extra touch of chic style to this affordable sofa bed. Choose from any of the 8 seriously beautiful colors. 


Mid-century style with a modern twist, this stylish sofa bed is the perfect addition for any small living space. Upholstered in an eye-catching faux leather, the sofa bed has a tufted back, tapered wooden legs, and quickly converts into a lounger or sleeper.


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. 



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