We’ve all been there – crashing on couches, trying to live in minimal space while saving up with our part-time jobs.

Whether you’re a student who’s just stepping out into the real world or a friend who wants to help out a fellow, we’ve got you covered. Our list of the best sleeper sofa under 500 is guaranteed to offer the best comfort you can get.

As the name suggests, these sleeper sofas allow you to get the best of worlds – you can use it as a living room couch plus a bed to sleep in at night.

Rest assured, these sofas are much comfier to sleep in when compared to your regular back-aching seaters. We also understand that you might not want to spend too much on your next furniture find.

Here is a list of sofas that are not only comfortable but look good too.

The Ultimate List of Top 7 Best Sleeper Sofas Under 500 Dollars – Designed for Small Spaces

Finding a cheap sleeper sofa made of high-quality material is no easy task. This is why, today, we’ve compiled a list of the best sleeper sofas under $500 for you! With our buyers’ guide, your sofa shopping journey is bound to be a breeze.

#1. DHP Ivana Tufted Futon – The Best Sleeper Sofa Under $500

The DHP Ivana Tufted Futon is a sight to see on its own. The vintage design not only looks trendy but also matches most decors. The fact that the sofa is manufactured by DHP happens to be the icing on the cake. DHP has been in the business for years and has a reputation for creating some of the best sleeper sofas in the market.

This particular model offers a lovely balance between comfort and style. The thick padding ensures you get a good night’s sleep while the tufted velvet keeps you comfortable. We’re also pleased to let you know that this model offers split-back structure seating so that you can sit back and relax while watching your favourite movies.

The sofa is perfect for when you’re hosting over friends and is easy to transition into a bed. Potential customers will also be pleased to know that the couch cum bed is easy to move around.

Features
  • Velvet design
  • Split back design that offers greater versatility
  • Padded armrests
  • Comes with padded feet
  • Easy to assemble
Pros
  • Great for sleeping, lounging, and resting
  • Multifunctional design
  • Fits in small spaces
Cons
  • Construction of the furniture is not storong as expected

#2. Engage Mid-Century Modern Upholstered Fabric Loveseat

Combining modernity with classic elegance, this loveseat is one of the best sleeper sofas out there. The straight lines and slight curves add to its contemporary look, while the tailored lines take you back to the 1800s. This will fit right into any modern household.

Thee polyester fabric comes in a variety of colours, ranging from a sober grey to a bright, lively red. The fabric is soft and lulls you right to sleep. It is also easy to maintain and clean- just one swipe of a wet cloth and you’re done! The tufted back and comfortable cushions are wide enough to allow for one person to rest easy. It also makes the ideal sofa if you have pets around since the fabric can’t really be damaged. The cherry-coloured tapered wooden legs are simply the cherry on top with this lovely couch.

Overall, this sofa is perfect for any household. It’s big enough to serve as a focal point in small rooms but small enough to be accompanied by other couches in bigger rooms. You won’t find something that even remotely matches the quality this sofa offers you anywhere else.

Features
  • Straight backed, contemporary style
  • Long-lasting polyester upholstery
  • Tapered wooden legs
  • Solid wooden frame
  • Removable cushions
Pros
  • Excellent for the price
  • Deep, rich colour
  • Long-lasting and very comfortable
Cons
  • Not as sturdy as expected

#3. Tallulah Memory Foam Sofa by Novogratz

Looking for something classy and elegant? This is the one for you. This vintage styled sleeper sofa is one of the best ones out there. With a complete velvet upholstery, button-tufted sides and back, straight, tapered wooden legs, this is bound to fit into any household aesthetic.

The sturdy, wooden frame provides ideal support and the memory foam is soft enough to sink into but not enough for it to be uncomfortable. You can also use it as a futon by simply reclining the back. It keeps true to its promise of versatility and comes to you in a variety of different shades like blue, grey, green, light green, mustard yellow and pink velvet. It comes mostly pre-assembled and the rest can be put together in under half an hour.

However, this couch is not safe for pets. The velvet is bound to attract clumps of it. So if you have a furry friend in the house, make sure to keep it away from this couch.

Overall, this couch is excellent for smaller living spaces and adds a very elegant touch to the room. It’s excellent for the price and highly recommended for anyone who wants something high quality for a reasonable price.

Features
  • Velvet upholstery
  • The back can be adjusted into a futon
  • Sturdy wooden frame and slanted wooden legs
  • Tufted side cushions and back
  • Comes in blue, grey, green, light green, mustard yellow and pink velvet
Pros
  • Wide variety of colours
  • Very comfortable
  • Excellent for the price
Cons
  • Does not last very long

#4. Mainstay Memory Foam Futon

Coming at number four, the mainstay memory futon is one of the best futons you can find. Especially for people who have a darker or more alternative aesthetic, this adjustable futon is perfect. The black faux leather gives it a very cool look while also being pet-proof and very comfortable.

It is of excellent quality which means it won’t be shedding or peeling off any time soon. The slanted metal legs add a classy touch and provide ample support to the whole structure. The best part about this is how easy it is to convert it from a sofa to a futon. You can simply slide out the lock and push it back without breaking a sweat.

The easy conversion makes it the ideal candidate for a low-effort or mostly busy household where one or two (it’ll be a tight fit but it works) can easily turn the sofa into a futon and fall asleep. Overall, the colour, build, and look of this sofa is ideal for anyone looking for something more out of the box.

It’s not everyone’s cup of tea, but those who do get it, won’t regret it. In the case that you do regret it, the warranty will cover anything for up to a year, so rest easy knowing your money is well spent.

Features
  • Memory foam
  • Slanted metal legs and wooden frame
  • Easy conversion
  • Black faux leather upholstery
  • Convenient and easy to clean material
Pros
  • Very easy to convert
  • Highly comfortable
  • Excellent for the price
Cons
  • A bit on the smaller side

#5. Novogratz Leyla Loveseat and Comfortable Sleeper Sofa

Have a small space but need a couch? We’ve got you covered. The Novogratz Leyla Loveseat is perfectly sized for all small spaces be it an apartment, dorm, condo, or even an RV. The beige colour blends in perfectly with its surroundings with the straight, slightly slanted build gives it a modern and classy look which is only enhanced by the metal legs.

It features a side pocket on the armrests for magazines and TV remotes (and just about anything else) which adds to its functionality. You can also simply pull out the seat and turn the loveseat into a sleeper at any second! It makes it the perfect choice for all-nighters, a relaxing evening after work, or a movie night.

The plush cushions agave just the right amount of fluff. Enough to keep you comfortable but not so much as to completely crush your spine. It does require a bit of assembly when it arrives, but nothing you can’t wrap up in about half an hour.

Overall, it’s the perfect couch for students or people with small living areas. It gives a very chic look to the place and is the perfect companion for any overnight guests.

Features
  • Armrest pocket for storage
  • Easy conversion from sofa to sleeper
  • Wooden frame with a plush, tan upholstery
  • Easy assembly
  • Small and perfect for small places
Pros
  • Perfect for long nights
  • Great size
  • Easily convertible and highly comfortable
Cons
  • Not very durable

#6. Alenya Queen Size Sleeper Sofa by Ashley

This one is a personal favourite of ours. If you are looking for something warm, comfortable, and cozy, this is the perfect sofa for you. The box cushions are perfect to sink into after a long day at work while the bottom is firm enough to keep you steady as to not completely cripple your spine.

The track arms and straight, yet soft, build of the sofa give it a classy, yet very modern and cozy look which is only enhanced by the dark charcoal colour. The nylon and polyester blend makes it plush and highly comfortable. Not only that, but it is also very easy to clean, making this the perfect choice for busy households or one with pets.

The sofa features a basic wooden frame and then, a metal frame on which the extended mattress under the cushions is. One pull and you have a nicely sized bed for all your guests. However, the sofa does require assembly (albeit easy) which may cause a hindrance for some people.

Overall, this sofa has it all; the looks, the comfort, the versatility, and the practicality. It is an excellent investment for any household and bound to be one you don’t regret.

Features
  • Available in charcoal and quartz
  • polyester/nylon blend plush upholstery
  • Innerspring mattress
  • Box cushions and track arms
  • Two throw pillows included
Pros
  • Very comfortable
  • Practical, functional, and highly versatile
  • Considerably lower price
Cons
  • Assembly needed

#7. Tibbee Contemporary Sofa Sleeper

At number seven, we have the Tibbee Contemporary Sofa. This is the perfect sofa for large spaces. With a very clean profile due to the straight back and arms, it gives your room a very cosy and modern look. However, that doesn’t mean it isn’t comfortable.

The Tibbee sofa features ultrasoft foam and the polyester upholstery wraps it in perfectly, giving it a very soft and gentle feel. The stitching on the edges of the sofa, the tufted back cushions, and the dark finishing on the sofa feet all come together to give the sofa a very clean and chic finishing and are also proof that details do stand out.

The sofa comes fully prepared and requires no assembly which makes that process fully hassle-free. However, the one drawback is that this sofa isn’t very durable. From the looks of it, it won’t last you longer than a year; two at most.

Overall, for a short time commitment, this sofa is excellent. It has the looks, the functions, and the practicality, making it the perfect choice for any household.

Features
  • Slate-grey colour
  • Sofa sleeper cushions
  • Polyester upholstery
  • Sharp details
  • Perfect for large spaces
Pros
  • Highly comfortable
  • Very ergonomic
  • Excellent design
Cons
  • Not very durable

Things to Keep in Mind Before Choosing the Best Sleeper Sofa Under $500 – Buyers’ Guide by Interior Designers

Buying a sleeper sofa is no easy business; especially if you’re aiming to get one under 500 dollars. There are a few things you need to be on the look-out for and a few things you need to avoid at all costs or else, that’s your hard-earned cash down the drain.

We’ll get into all that in a second, but first, let it be established that you can’t possibly get a good, long-lasting sofa under 500. It’s either not going to last very long, going to look bad, or just plain out not be worth it. Of course, there are exceptions to that ruler, but finding a good, cheap sofa that is actually worth what you pay is hard to find.

The safest bet would be to look for one under 1000 if you’re impatient. However, if you aren’t and are dedicated to finding the best sleeper sofa under 500, read on.

Upholstery

This majorly depends on where and with whom you’re living. If you have pets in the house, make sure to get something to which fur doesn’t stick. Faux leather, polyester, and nylon are good fabrics for this since they are relatively easy to clean and faux leather doesn’t really hold any fur either.

However, a good chunk of it also depends on the climate you’re living with. If you’re in a hotter part of the world, a leather sofa isn’t going to cut it for you. You can try going for something softer, like linen or polyester. If you’re in a colder area, velvet is a pretty good bet.

Overall, the best fabric you can have for your sofa is polyester, or maybe a combination of polyester and nylon.

Frame

Since we’re talking about a sleeper sofa, there’s bound to be a bit of a difference in choosing a frame for a regular sofa and a sleeper sofa. For a sleeper sofa, consider getting a wooden frame as the base and a metal frame for the pullout as the standard is. If a sofa is offering some strange, new pullout tech, don’t go for it. It’s likely to be very flimsy and break apart in two seconds.

Size/weight

Again, this majorly depends on your living space. It’s generally a good idea to not cram a big sofa in a tiny living room or a tiny sofa in a giant living room (though the latter can still be managed). It all depends on the placement and how you’re going to be putting things.

However, try starting out small with small living spaces and going for a pullout loveseat instead. Or if you just really want a big, queen-sized sofa, then get something you can assemble on your own, since that sofa won’t be fitting through the doorway any time soon.

For larger living spaces, you can pretty much do what you want. Despite that, it’s generally a better idea to get a set with a sleeper sofa. Otherwise, the room is bound to look very empty and strange. You can also get something heavier since that means that the pullout is bigger.

Bottom line, don’t bite off more than you can chew. Start small and make smart decisions, otherwise you’ll regret it when your sofa can’t even fit through the doorway.

Filling

The name is pretty self-explanatory, but it basically refers to what the sofa (namely the cushions) are filled with. Generally, you’re going to want something that isn’t too soft or too firm. For that, dual springs are a good bet. Memory foam is also a very good option, however, it sags in and doesn’t last very long.

Final Verdict

And with that, we conclude our list of the best sleeper sofas under 500! We hope you found this interesting, informative, and to your liking. Which is your favorite sofa? Let us know in the comments below along with any suggestions or feedback you might have. Until next time, Happy Sleeping!

About the author

Lisa Scholfield

Lisa Scholfield is a New York Times and USA Today bestselling author of "The Digital World". Her books have received starred reviews in Publishers Weekly and Booklist.

Lisa lives in the Rocky Mountains with her husband, a medium-sized dog, and an attack cat. Before she started writing "The Digital World", she experimented with various occupations: computer programming, dog-training, scientificating… But her favorite job is the one she’s now doing full time — writing product reviews.

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