Best Phone Deals Under $500 in 2026: Awarded Budget Picks
The under-$500 tier is more competitive than ever in 2026 — and current discounts on MKBHD's Best Value award winners make it an exceptional time to buy. Here are the strongest current deals.
Updated · 5 picks · Rankings reflect MKBHD Smartphone Awards outcomes.
How we picked
Phones currently selling under $500 with active discounts and MKBHD's Best Value award placement.
- #1
Runner-up Best Value at MKBHD's 2024 awards. $499 from Google Store; often discounted to $399–$449 during sales. Seven years of OS updates running through 2031.
Pros
- Runner-up Best Value 2024
- $499 list, often discounted
- Seven years of OS updates
- #2
Won Best Value at MKBHD's 2024 Smartphone Awards. Around $349 in 2026 with frequent additional discounts to $299. Most distinctive sub-$400 phone.
Pros
- MKBHD's 2024 Best Value
- Around $349, often $299
- Most distinctive design
- #3
Won Best Value at MKBHD's 2023 Smartphone Awards. Now $249–$299 with frequent discounts to $199 at Amazon. IP67 water resistance at this price tier is rare.
Pros
- MKBHD's 2023 Best Value
- Often hits $199 on sale
- IP67 water resistance
- #4
Runner-up Best Value at MKBHD's 2023 awards. Now $200–$280 used or refurbished. Cheapest credible camera phone with multi-year update support remaining.
Pros
- Runner-up Best Value 2023
- Now $200–$280 used
- Pixel computational photography
- #5
Now $499 refurbished from Apple Certified. USB-C, 48MP main, 5+ years of iOS updates. Cheapest current-design iPhone but does NOT support Apple Intelligence.
Pros
- Cheapest USB-C iPhone
- Apple Certified refurb at $499
Cons
- No Apple Intelligence
.svg){kind=tracking}
Frequently Asked Questions
What's the best phone deal under $500 in 2026?
Google Pixel 8a at $499 (often $399–$449 on sale) — runner-up Best Value at MKBHD's 2024 Smartphone Awards. Strongest combination of camera quality and 7-year update support.
Should I buy a $500 phone or stretch to a flagship?
If you'll keep the phone 5+ years, the Pixel 8a is excellent at $499. If you upgrade every 2–3 years, a discounted last-gen flagship (iPhone 16, Galaxy S24) at $599–$699 may offer better value per year.
Is buying a refurbished phone safe under $500?
Yes from Apple Certified Refurbished, Amazon Renewed, or Best Buy Open Box — all include warranty coverage. Avoid sub-$300 deals from unknown sellers.
About this list
We index every phone that won or placed in MKBHD's annual Smartphone Awards (2014–2025) and surface the strongest matches for this category. Award badges link to the full award history. We earn a commission on purchases via our retailer links — at no extra cost to you.