There’s a peculiar guilt that lingers after relegating a visitor to a night’s sleep on the couch. Perhaps it’s because we’re abandoning them to a few feet of cushions while we retreat to our mattresses for sleepy time. For the noble among us, there is always letting the guest claim the real bed, which means we, not the visitors, are cursed to toss and turn in the living room. It’s a lose/lose, but before you devote hours of therapy to eradicating your guilt, we have a more affordable option: an under-$500 sleeper sofa or sofa bed.
It was a tough task, but we prevailed and found 10 top-rated sleeper sofas and sofa beds going for less than $500. What’s the difference between the two? Sleeper sofas have hidden mattresses, while sofa beds resemble futons and simply fold down. Neither will fully replace a mattress, but both will give guests way more room to spread out comfortably, and let you sleep guilt-free in your regular bed.
Whether you’re looking for the perfect sleeper sofa for plus-sized friends or a faux-leather sofa bed dressed to impress guests, the following picks are in budget, reviewer-approved, and made to be slept on (literally, not metaphorically). Scroll on for cozy convertible sofas, four-in-one beds, pull-out mattresses, and more multi-functional furniture finds for your home.
All linked products are independently selected by our editors. If you purchase any of these products, we may earn a commission.
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Best Under-$500 Small Space Sleeper Sofa
Ikea Brimnes Daybed
The Hype: 4.2 out of 5 stars and 93 reviews
Everyone loves the feeling of accomplishment from a DIY furniture moment, especially in the form of this aesthetic convertible daybed, which also doubles as storage for bed linens when not pulled out for maximum space-saving efficiency. This sleek daybed will go with almost any aesthetic and has many uses, as one reviewer puts it, “Great multi-purpose bed! Used for the guest room/study for a quiet place to read, friends to come stay over as well as my small nieces!”
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IKEA Brimnes Daybed, $, available at IKEA
Best Under-$500 Modern Sleeper Sofa
Brayden Studio Lelana Twin 78.75 Polyester Tufted Sofa
The Hype: 4 out of 5 stars and 517 reviews
For those with a modern aesthetic, we have found the perfect sleeper sofa for you. A functional piece of art with angular features and stain-resistant fabric, this makes for a great addition to a living room. As one reviewer puts it, “Loved the couch!! Love the modern look and it’s a sleeper.“ At 78.75 inches long, this sofa suits a long living room or larger space.
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Brayden Studio Lelana Twin 78.75 Polyester Tufted Sofa, $, available at Wayfair
Best Under-$500 Storage Sleeper Sofa
Ebern Designs Navaeh Sleeper Sofa
The Hype: 4.2 out of 5 stars and 2002 reviews
What is the perfect size for small space living? Ebern Design’s Navaeh Sleeper Sofa, of course! At a reasonable unfolded length of 81.5 inches and width of 29.8 inches, the sofa can be pulled out to create a larger bed for more comfortable sleeping. The sofa chaise also offers storage space for all the bedding accouterments your guest (or you) may need. This Wayfair reviewer puts it best, “Very easy to put together. Perfect fit in my small living room. Already had a guest stay on the sleeper and they said it’s very comfortable.”
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Ebern Designs Navaeh Sleeper Sofa, $, available at Wayfair
Best Under-$500 No-Frills Sleeper Sofa
Latitude Run Abbigale 65.8” Faux Leather Reclining Sleeper Sofa
The Hype: 4.2 out of 5 stars and 1,614 reviews
There are no frills with Latitude Run’s Abbigale sleeper sofa, it’s a straightforward sleeper sofa with some additional helpful features like easy-to-clean faux leather, foldable cupholders, and moveable armrests. During the daytime, it’s a great sofa for watching a show or reading a book, then when the sun goes down, you can recline the backrest and get a sound night’s sleep. One Wayfair reviewer commented, “It’s more comfortable than I thought it would be, in size it’s just perfect for my room. It was also very easy to assemble and it looks great.”
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Latitude Run Abbigale 65.8” Faux Leather Reclining Sleeper Sofa, $, available at Wayfair
Best Under-$500 Sleeper Sofa For Tall People
Eastern Urban Home Chillax Gold 83.86″ Velvet Square Arm Sleeper Sofa
The Hype: 4.3 out of 5 stars and 363 reviews
Entering the ring at under $500 and seven feet long is this Eastern Urban Home cozy velvet sofa bed, a solid pick for tall people and budget-friendly folk. One Wayfair shopper attests to its ample size and nice feel: “It looks so much more beautiful in person. It’s comfortable and firm (so doesn’t dent). It is also a really nice size. Very modern. So definitely get this.”
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East Urban Home Chillax Gold 83.86″ Velvet Square Arm Sleeper Sofa, $, available at Wayfair
Best Under-$500 Sofa Bed Overall
Mistana Aria 77″ Round Arm Convertible Sofa
The Hype: 4.3 out of 5 stars and 5,290 reviews
Wayfair, the booming furniture retailer, delivers coveted home goods for less, including Mistana’s quaint sofa bed. One happy buyer explains that it “wasn’t difficult to put together,” and that she is “able to lie down comfortably” despite being five-foot-10. With over 3,200 5-star reviews, a crowd-pleasing design, and multiple colorways, it’s our pick for the best under-$500 sofa bed overall.
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Mistana Aria 77″ Round Arm Convertible Sofa, $, available at Wayfair
Best Under-$500 Sleeper Sofa For Small Spaces
PB Teen Grove Sleeper Sofa
The Hype: N/A
It’s an under-$500 find so rare it doesn’t have any reviews… yet. Although we’re still waiting on customer feedback, we couldn’t pass up the opportunity to highlight a Pottery Barn piece going for such a low price. And yes, it’s technically for teens, but with a 73.5-inch-long extended bed and 54.5-inch-wide base, we deem it the perfect adult couch sleeper sofa for small spaces.
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PB teen Grove Sleeper Sofa, $, available at PBTeen
Best Under-$500 Sleeper Sofa For Plus-Sized People
Sejov Convertible Bed 4-In-1
The Hype: 4 out of 5 stars and 237 reviews
With solid wood legs and sturdy metal, this sofa can hold up to 350 pounds, which, in comparison to many couches’ 250-pound weight limit, is quite impressive. One reviewer also praises its versatility, writing, “It only takes a few seconds to pull out the foot pads and adjust the backrest to the desired position. I also love that it can be used as a recliner — it’s really versatile and perfect for a variety of different uses.”
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SEJOV Convertible Sofa Bed 4-in-1 Sofa Beds, $, available at Walmart
Best Under-$500 Sleeper Sofa Overall
Hashtag Home Akeem Tufted Back Pull-Out Sleeper Sofa
The Hype: 4.3 out of 5 stars and 5,290 reviews
What this sleeper sofa lacks in width, it makes up for in a spacious, comfy mattress. “Amazing product for its size,” writes one Wayfair reviewer. “I needed a small sofa with a pull-out mattress for my office for guest. (When the nieces and nephews are here) The size is perfect I can add a nightstand and flowers on the sides. The color is as pictured. The fabric is nice.”
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Hashtag Home Akeem Tufted Back Pull-Out Sleeper Sofa, $, available at Wayfair
Best Under-$500 (Faux) Leather Sleeper Sofa
Sand & Stable Faux Leather Convertible Sofa
The Hype: 4.4 out of 5 stars and 1,055 reviews
Sleeper sofas and sofa beds are multi-functional, but that doesn’t mean they can’t be stylish, too. Sand & Stable offers a luxe-looking convertible sofa for those prioritizing appearance just a teensy bit over comfort. One Wayfair buyer gives it to us straight: “Build quality is good and the material is soft,” they write. “Cushions are firm and feel like I’m [sitting] on a bench seat of an old pickup truck but it is aesthetically pleasing.”
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Sand & Stable™ Seylow Faux Leather Convertible Sofa, $, available at Wayfair
Best Under-$500 Cozy Sleeper Sofa
Opiar Faux Leather Sleeper Sofa
The Hype: 4.5 out of 5 stars and 35 ratings
35 ratings is low for an Amazon product, but we can’t ignore 36 out 39 4+ star reviews. According to on-site Amazon reviewer Deanna, she is “super happy with this purchase.” Meanwhile, another happy customer confirms that it’s “well-built,” and “comfortable to sit on and lie on.” A cozy couch, indeed.
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Opoiar Faux Leather Sleeper Sofa, $, available at Amazon
Best Under-$500 Colorful Sleeper Chair
The Hype: 4.3 out of 5 stars and 5,290 reviews
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