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5 Great Sleeper Sofas For Less Than $500

Your guests will love these — and so will your wallet.

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There are two kinds of people in the world — those who pull out the extra bed linens when unexpected visitors drop in from out of town, and those who quickly give them the number of the closest hotel. If you’re the type that welcomes guests with open arms, then you’ll be glad to know that you don’t have to bust your budget to provide a place for them to lay their heads. We’ve found the best sleeper sofas for surprisingly affordable prices — so you can always have an extra spot for friends and family to sleep.

A word of warning: Keep in mind that when we’re looking at sofas for less than $500, we’re not talking about the most comfortable mattresses in the world. (Even the best sleeper sofas can’t usually boast that.) At these prices, your guests probably won’t want to sleep over for more than a few nights (which could be a good thing!) However, this is easily solved by putting a luxurious mattress topper on your foldout bed. Whether you’re looking to create a haven for teens, want to add a pop of color to your room, or are working with a budget as small as your apartment, we’ve got the perfect sleeper sofa for you!

Keep scrolling to see our picks for the best sleeper sofas under $500!

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Lizeth Sofa Bed

most compact
best sleeper sofas Lizeth
Wayfair

  • $479.99
  • 58″ long
  • Linen upholstery
  • Available in 5 colors

Need to fit additional seating and sleeping spots into a small space? The Lizeth sofa is for you! With its classic tufted style and sturdy wood frame, it gets the job done — and comes in five neutral hues to suit any décor: blue, beige, dark gray, light gray, and light brown.

“This is a great little sofa/pull out for our backyard cabin … We wanted something that looked like a couch but also pulled out for sleepovers. I like that it’s simple to convert (a kid could do it). Not overly comfortable, but I like how it looks and it works perfectly for what we needed.”

Novogratz Palm Springs Sofa Sleeper

most stylish
best sleeper sofa novogratz
Amazon

  • $333.07
  • 71.5″ long
  • Linen upholstery
  • Available in mustard yellow or navy blue

This mid-century inspired futon-style sleeper features tapered wooden legs, stitched piping, and a tufted back. It also has a split-back design that lets each occupant sit up, recline, or lie flat as desired.

“I love this mustard yellow couch. I live in a studio apartment, so I wanted a versatile piece of furniture that brought a pop of color to the room. This couch is rather firm, so don’t expect to sink into it too much, but the cushions do soften up a bit over time. I’ve even taken a nap on this thing and slept great.”

Grattan Square Arm Sofa Bed

best for large spaces
best sleeper sofas grattan
Wayfair

  • $349.99
  • 81.1″ long
  • Polyester upholstery
  • Available in 4 colors

This gorgeous sofa needs to be placed (or moved when you have guests) six feet away from the wall, to accommodate the fold-out feature, and is the longest of our five choices. If you have a bigger room, this piece is perfect. With a velvety look, solid wooden legs, and currently available in four colors (black, burgundy, rose, and yellow — five more shades are currently out of stock), you’ll be amazed at both the style and the value!

Great color, easy to put together. Used as second couch for additional seating, and for guests to sleep on. Slightly smaller than a full mattress; more like an enlarged twin, but two people can fit on it. My husband and I slept on it pretty comfortably. Just added a mattress pad to give more cushioning for sleeping, as it is firm. Good item for the price.”

Watervliet Armless Sleeper

best for kids
best sleeper sofas watervliet
Wayfair

  • $449.99
  • 66.2″ long
  • Linen upholstery
  • Available in 3 colors

With built-in cup holders and available in three vivid hues (purple, gray, and red), this sofa bed will be a hit with teens, grandchildren, and other sleepover guests. With three different angles to adjust for your desired comfort level, it’s adaptable, sturdy, and easy to clean — just what kids need!

  • “Easy to set up and seemingly sturdy. My daughter loves it.”
  • “Very convenient and multifunctional.”
  • “Pretty, but really low to the ground.”

Serta Rane Convertible Sofa

most affordable
best sleeper sofas serta
Amazon

  • $189.99
  • 66.1″ long
  • Polyester upholstery
  • Available in 4 colors

A sleeper sofa for less than $200? It’s true! This futon-style choice from Amazon is sleek, simple, and easily converts from sitting to sleeping and lounging positions. High-density foam makes it surprisingly comfortable, and details like stitching and tufts lend sophistication you might not expect from a futon. Comes in charcoal (pictured), java, navy, or black.

“I love this little sofa so much. I have a small condo, and bulky furniture just makes my place look that much more claustrophobic. This is absolutely perfect.”

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