The 15 Best Sleeper Sofas Under $500

By  Erin Lassner Updated
auburn velvet sleeper sofa with square arms Wayfair

Whether you're crashing, snuggling, snoozing, or catching some zzzs, a great night of sleep is essential when you're looking to feel your best. Having extra bedrooms is awesome, but it's not always practical (especially for small-space inhabitants). By investing in a sleeper sofa, you can convert your main couch into a cozy bed. Enjoy a change of scenery, make guests feel at home, and accommodate family members who drop in without compromising on how much furniture is in your house.

And even better? You can do it for less than $500. Here are our 15 favorite sleeper sofas that won't break the bank.

The 15 Best Sleeper Sofas Under $500

dark gray convertible velvet sleeper sofa bed Amazon

1. Belffin Velvet Convertible Futon Sofa Bed, $299.99

Create a luxe makeshift sleeping space with this resilient and ultra-comfy memory foam futon.

wayfair black vegan leather futon sofa bed for small spacesWayfair

If you're digging a black faux leather vibe, go for this Wayfair three-seater sleeper sofa that's great for small spaces.

wayfair upholstered sleeper sofaWayfair

With magazine bags on each side of its armrests, this sleeper looks like it costs the big bucks. No matter your style or color scheme, this refined sofa will look excellent in your living space.

light gray sleeper sofa for small spacesAmazon

This Scandi-inspired piece blends charming Nordic details and modern influences.

amazon gray fabric memory foam sleeper sofaAmazon

This little gem makes sleepovers a breeze. Plus, it's designed with memory foam for ultimate comfort.

dark gray Serta sleeper sofa with metal legsWayfair

With comfy upholstery and an easy-to-navigate design, this tufted sleeper sofa will make hosting surprise overnight guests a breeze.

walmart pink blush convertible sleeper sofa with pillowsWalmart

This beautiful blush pink sofa is what dreams are made of. It's no surprise that this is one of Walmart's highest-rated sofas.

wayfair pink upholstered sleeper sofaWayfair

This little sofa adds charm and character to any space. With a simple design and easy functionality, you don't have to sacrifice style to get your eight hours.

light green velvet sofaWalmart

The Victorian-style legs beautifully accompany the sleek shape of this teal sofa. It's also sold in deep green, mustard yellow, and gray, just to name a few.

auburn velvet sleeper sofa with square armsWayfair

Keep with the colored velvet moment when you go for this contemporary sleeper that's sold in a variety of hues.

tufted velvet gray sofa with gold-accented splayed metal legsWayfair

Rock your living room aesthetic goals while embracing function. Between the midcentury modern splayed legs, button tufting, and gold accents, there's no need to trade practicality for style.

ivory velvet sofaAmazon

This velvet ivory futon bed on Amazon is stylish and comfortable, and it will work in nearly any space. What more could you want?

wayfair green velvet upholstered sofa bedWayfair

If a statement sofa is your thing, you've just met your new best friend. With its green velvet upholstery, solid wood frame, and unique metal legs, this sleeper sofa will amaze anyone who's lucky enough to be spending the night at your place.

gray storage sectionalWayfair

Up your space with this shockingly affordable sectional. And the extra storage space certainly doesn't hurt.

walmart camel faux leather modern sleeper sofaWalmart

If you love the look of leather, this camel faux leather sofa from Walmart is a clear winner. And if you're digging this silhouette but prefer another color, you're in luck because there are three other options to choose from.

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