10 Sofas Under $500 That Look Anything but Cheap

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A sofa for under $500? Yes, it is possible. Not only that, it’s even possible to find one in this price range that’s comfortable, sturdy, and stylish — the coveted trifecta. So if you’ve been craving a living room refresh, consider this a sign: It’s time to finally commit to purchasing a new place to sit (that won’t break the bank). Not sure where to start? We’ve got you covered.

The Best Sofas Under $500

We scoured the internet, shopped our favorite retailers, and found 10 pieces we love and think you will, too. From luxe leather and smooth velvet picks to convertible sleeper sofas and even a pick from Pottery Barn (yes, for under $500, really!), these sofas are the definition of a great budget find. Keep reading to check out a few of our favorites that you can get your hands on today. Looking for more sofa buying tips? Be sure to check out our sofa buying guide to make sure you find the perfect sofa for you.

Do you have a cheap sofa that you love? We want to hear all about it! Tell us about your favorite finds in the comments below.

AT Sofas Under $500

  1. Novogratz Regal Futon Sofa
    Novogratz Regal Futon Sofa

    Novogratz Regal Futon Sofa

    Wayfair

    $356.87 (was $912)

    This stunning Novogratz piece will make a chic addition to any living space. Its tufted back and winged arms add eye-catching details, while its convertibility gives it major functionality points.

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  2. Copenhagen Round Arm Loveseat
    Copenhagen Round Arm Loveseat

    Copenhagen Round Arm Loveseat

    Wayfair

    $379.99

    If you prefer the coastal look, this sofa is right up your alley. Its neutral sand color and clean lines let you effortlessly incorporate it into any space. Not to mention, its fabric texture is incredibly easy to clean, meaning you can trust this couch to withstand even your messiest get-togethers.

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  3. Brumback Upholstered Sofa
    Brumback Upholstered Sofa

    Brumback Upholstered Sofa

    Wayfair

    $309.99 (was $399.99)

    Boxy couches with clean lines are all over Instagram, but this is a budget-friendly dupe if you only have $300 to spend on your living room. Details like the tufted seat cushions, rounded throw pillows, and velvet upholstering make this sofa look and feel so much more expensive than it actually is. It comes in either a goes-with-everything gray or a royal blue color.

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  4. Mopio Futon Sofa Bed
    Mopio Futon Sofa Bed

    Mopio Futon Sofa Bed

    Amazon

    $279 (was $428)

    This may just be the rose-colored sofa of your grandmillennial dreams. Better yet, it looks much pricier than it actually is — and no one will ever guess it cost you less than $500. The soft velvet material is perfect for cozy afternoons lounging and watching TV, but it's equally great for entertaining that extends overnight thanks to its convertible design.

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  5. Christopher Knight Home Mariah Loveseat
    Christopher Knight Home Mariah Loveseat

    Christopher Knight Home Mariah Loveseat

    Bed Bath & Beyond

    $357.29 (was $529)

    If you're looking for an on-trend mid-century modern option that's also petite enough to fit into your small space, look no further than Bed Bath and Beyond. This gem is available for just under $500, making it a no-brainer for those looking to furnish a space on a tight budget. Best of all, it's available in orange, green, and blue, so there's a good chance you'll find one to match your color scheme.

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  6. Winston Porter Ibiza Sofa
    Winston Porter Ibiza Sofa

    Winston Porter Ibiza Sofa

    Wayfair

    $389.99 (was $509.50)

    This classic three-seater is quite the steal (considering the size), and its neutral color means it will fit seamlessly with any decor style. The button-tufted back cushions and clean lines add chic touches of sophistication.

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  7. Ashton Sleeper Sofa
    Ashton Sleeper Sofa

    Ashton Sleeper Sofa

    PB Teen

    $399

    Did you know you can get your hands on a sleeper sofa for under $500 from rom Pottery Barn? The Ashton Sleepr Sofa was designed with the budget-conscious shopper in mind, offering the quality and aesthetic we've all come to know and love from the luxe home brand at a fraction of the price.

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  8. VANOMi Faux Leather Vintage Loveseat
    VANOMi Faux Leather Vintage Loveseat

    VANOMi Faux Leather Vintage Loveseat

    Bed Bath & Beyond

    $300.14 (was $399)

    If peppy hues aren't your thing, Bed Bath and Beyond also has more subdued sofas, like the affordable option above. Pair it with a jute or black and white Moroccan rug to create a calm, cozy living space.

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  9. Monroe Sleeper Sofa
    Monroe Sleeper Sofa

    Monroe Sleeper Sofa

    PB Teen

    $499

    The Monroe Sleeper Sofa is a true powerhouse. Simply lift the seat cushion up and out for a sleeping space 46 inches wide, perfect for one person (or two, if you want to get extra cozy). The mattress is 6 inches thick and can fit full-size bedding. Plus, at under 40 pounds, it's light as a feather when it comes to moving and rearranging your space, yet sturdy enough to withstand daily use.

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  10. Lifestyle Solutions Lilith Sofa
    Lifestyle Solutions Lilith Sofa

    Lifestyle Solutions Lilith Sofa

    Home Depot

    $382.23

    The Home Depot offers way more than just paint and remodeling supplies. The next time you're placing an order for some lightbulbs, why not add a sofa to your cart? Coming in just under $500, this mid-century sofa may be just the solution you've been searching for to upgrade your living room.

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Further Reading

We Tested (and Rated!) All the Living Room Seating at Burrow to Determine the Best for Every Space and Need (Bonus: Everything’s 20% Off!)

We Tested (and Rated!) Every Sofa at West Elm — Here Are the Best for Every Type of Need

See How a Stager Used Paint to Transform a 1950s Living Room