12 Best Sleeper Sofas Under $500: Host Overnight Guests and Make the Most of Your Space on a Budget

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Sleeper Sofa
Amazon

From convertible couches to futons, shop top-rated sleeper sofas from Wayfair, Walmart and Amazon.

Arguably one of the best parts of having your own home or apartment is getting to play host to overnight guests of your own. And while there's something so exciting about the prospect of getting to open up your home to those closest to you, the task can also prove to be a bit of a hassle — especially when it comes to figuring out the sleeping arrangements.

Sure, you can pop out your handy air mattress and hidden linens, but the benefit to having a comfortable, more permanent sleeping spot is undeniable (probably for both you and your guest). Hence, the allure of the sleeper sofa.

Even if you don't have an extra bed or unused corner of your home, sleeper sofas are exceptionally useful pieces of furniture because they can transform almost any room into an instant guest room. You can maximize any ordinary living room space with the help of a convertible sofa that doubles as a classic couch or pull-out bed for instant lounging and sleeping

Ahead, we've found the best sleeper sofas to shop on a budget, including convertible couches, sectionals and futons. All of our top-rated picks cost less than $500 and are much more comfortable than an air mattress.

Best Sleeper Sofas Under $500

Seylow 81.5'' Faux Leather Convertible Sofa

Seylow 81.5'' Faux Leather Convertible Sofa
Wayfair

Seylow 81.5'' Faux Leather Convertible Sofa

This convertible sleeper combines a sleek design with a functional guest bed. It extends into a twin-sized bed that's an amazing deal for an extra sleeping space.

$916 $336

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Mistana Aria 77" Round Arm Convertible Sofa

Mistana Aria 77" Round Arm Convertible Sofa
Wayfair

Mistana Aria 77" Round Arm Convertible Sofa

This linen couch features a multi-positioner, allowing you to easily convert from a sofa to a lounger to a sleeper with just a push or pull.

$757 $360

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Better Homes & Gardens Nola Modern Futon

Better Homes & Gardens Nola Modern Futon
Walmart

Better Homes & Gardens Nola Modern Futon

An affordable faux leather futon that's perfect for small spaces and unexpected guests.

$224 $201

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mopio Futon Sofa Bed

mopio Futon Sofa Bed
Amazon

mopio Futon Sofa Bed

Chevron stitching adds an extra touch of chic style to this affordable sofa bed. Choose from any of the 10 seriously beautiful colors. 

$428 $279

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Mercury Row Perdue 81.5" Velvet Square Arm Convertible Sleeper

Mercury Row Perdue 81.5" Velvet Square Arm Convertible Sleeper
Wayfair

Mercury Row Perdue 81.5" Velvet Square Arm Convertible Sleeper

This sofa bed combines thick cushioning with tufted velvet, sleek arms, tapered wooden legs, and a vintage look. With a variety of colors to match your décor, this sofa can fit perfectly with a contemporary look, classic style, or more rustic-looking living space and offer overnight guests a perfectly comfortable place to spend the night.

$930 $313

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Etta Avenue Novelle 81" Velvet Square Arm Convertible Sleeper

Etta Avenue Novelle 81" Velvet Square Arm Convertible Sleeper
Wayfair

Etta Avenue Novelle 81" Velvet Square Arm Convertible Sleeper

This sofa's convertible 3-click technology and modern split-back design let you easily adjust from sofa, lounger, and bed positions in one simple swoop.

$750 $390

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DHP Pin Tufted Transitional Futon and Sofa Bed

DHP Pin Tufted Transitional Futon and Sofa Bed
Walmart

DHP Pin Tufted Transitional Futon and Sofa Bed

Add a pop of color in your living room with this transitional sleeper sofa. This sofa bed is perfect for when you're having guests over.

$319 $225

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Dakota Fields Cyren Twin 77'' Faux Leather Split Back Convertible Sofa

Dakota Fields Cyren Twin 77'' Faux Leather Split Back Convertible Sofa
Wayfair

Dakota Fields Cyren Twin 77'' Faux Leather Split Back Convertible Sofa

Not only does this faux leather sofa look stunning, but it's functional as well: it lays flat into a twin-sized bed for guests.

$670 $270

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Serta Leonard 66.1" Futon Sofa Bed

Serta Leonard 66.1" Futon Sofa Bed
Wayfair

Serta Leonard 66.1" Futon Sofa Bed

The best-selling Serta Leonard Futon brings comfort and style to any space. The sleeper features chrome metal legs that provide stability and add a sleek touch.

$189 $163

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Novogratz Skylar Coil Futon

Novogratz Skylar Coil Futon
Amazon

Novogratz Skylar Coil Futon

With its ribbed cushioned back, this futon gives your body all the support you need to sit and relax for hours.

$600 $335

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Benitez Twin 76'' Vegan Leather Tufted Back Convertible Sofa

Benitez Twin 76'' Vegan Leather Tufted Back Convertible Sofa
Wayfair

Benitez Twin 76'' Vegan Leather Tufted Back Convertible Sofa

This futon transforms from a sofa to a twin-size bed whenever you need an extra spot to sleep.

$786 $350

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Ebern Designs Gadalia L-Shaped Velvet Sleeper Sofa

Ebern Designs Gadalia L-Shaped Velvet Sleeper Sofa
Wayfair

Ebern Designs Gadalia L-Shaped Velvet Sleeper Sofa

Kick back in style with this velvet sleeper sofa — with multiple adjustable positions and a soft cushion fabric.

$570 $460

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