Shopping for a new iPhone does not have to break the bank. With careful consideration of models and features, it’s possible to find an iPhone for under $500 that meets a variety of needs. Budget-conscious consumers can look into options like a certified pre-owned iPhone 12 Mini from carriers like Verizon or the iPhone SE 2020, which retails for less than $450. Each provides a pathway to enjoying the iOS ecosystem without committing to the latest—and often most expensive—devices.
Choosing an affordable iPhone involves balancing cost with desired features. While cutting-edge technology and the newest models often command higher prices, previous generation iPhones or the more compact iPhone Mini versions can offer significant savings. Many of these less expensive iPhones still boast an impressive range of functionalities, from high-quality cameras to access to the latest iOS updates. For anyone seeking an iPhone under $500, understanding which features are must-haves and which can be compromised on is crucial.
The Top iPhones Under $500 in 2026
Apple’s newest iPhone 17 lineup sits well above the $500 mark, but that doesn’t mean you’re out of options. Thanks to price drops, carrier deals, and the strong refurbished market, several older iPhone 16 and earlier models remain excellent buys in 2026.
This guide covers the best iPhones you can realistically find under $500, what they’re best for, and what to consider before buying.
Can You Buy a New iPhone Under $500 in 2026?
In most cases, no brand‑new flagship iPhone will fall under $500. However, you can find:
- Refurbished models (Apple Certified or third‑party)
- Carrier‑locked deals
- Older models still sold new in limited markets
These options often provide near‑new performance at a much lower cost.
Best iPhones Under $500 in 2026
1. iPhone 16 (Refurbished)
Best overall choice under $500
Why it’s great:
- Modern design and display
- Excellent performance for everyday use
- Strong camera system
- Long remaining software support
Best for: Users who want a “current‑generation feel” without flagship pricing.
Things to know:
- Most units under $500 will be refurbished
- Storage options may affect price
2. iPhone 16 Plus (Refurbished or Carrier Deals)
Best big‑screen iPhone under $500
Why it’s great:
- Larger display for media and productivity
- Bigger battery than standard models
- Same core performance as iPhone 16
Best for: Streaming, gaming, and users who prefer larger screens.
Things to know:
- Less common under $500
- Often tied to carrier promotions
3. iPhone 15
Best balance of performance and price
Why it’s great:
- Still very fast in 2026
- Excellent camera quality
- Premium build and OLED display
Best for: Users who want flagship performance without paying flagship prices.
Things to know:
- USB‑C charging makes it more future‑proof
- Battery health matters on refurbished units
4. iPhone 15 Plus
Best battery life under $500
Why it’s great:
- Outstanding battery longevity
- Large, high‑quality display
- Smooth performance for years to come
Best for: Heavy users who hate charging their phone often.
Things to know:
- Slightly bulkier
- Availability under $500 depends on condition and storage
5. iPhone 14 Pro
Best camera system under $500
Why it’s great:
- Pro‑level camera features
- High‑refresh‑rate display
- Premium build quality
Best for: Photography enthusiasts and power users.
Things to know:
- Heavier than standard models
- Battery condition is especially important
6. iPhone 14 / iPhone 14 Plus
Best value iPhone for everyday users
Why it’s great:
- Reliable performance
- Great cameras for casual use
- Strong ecosystem support
Best for: Social media, messaging, streaming, and light gaming.
Things to know:
- Fewer “Pro” features
- Still more than powerful enough for most users
7. iPhone SE (3rd or 4th Generation, if available)
Best compact and budget‑friendly iPhone
Why it’s great:
- Affordable and fast
- Touch ID support
- Compact and lightweight
Best for: Users who prefer smaller phones or want a simple iPhone experience.
Things to know:
- Smaller screen
- Fewer camera features
What to Look for When Buying an iPhone Under $500
✅ Battery Health
- Aim for 85% or higher
- Battery replacements add extra cost
✅ Storage Capacity
- 128 GB is the minimum recommended in 2026
- Avoid 64 GB models if possible
✅ Software Support
- iPhone 15 and 16 series will receive updates for years
- Older models still get security updates but fewer features
✅ Refurbishment Quality
- Prefer Apple Certified Refurbished
- Check warranty and return policies
New vs Refurbished: Which Is Better?
Refurbished is usually the smarter choice under $500:
- Lower cost
- Fully tested hardware
- Often includes warranty
- Better specs for the price
Final Thoughts
While none of the iPhone 17 models qualify for a sub‑$500 budget in 2026, buyers still have excellent options. The iPhone 16 (refurbished) stands out as the best overall choice, while the iPhone 15 and 14 Pro offer outstanding value depending on your priorities.
Key Takeaways
- Finding a budget-friendly iPhone requires comparing previous models and certified pre-owned devices.
- Essential features can still be available on iPhones priced under $500.
- An affordable iPhone offers access to the iOS platform without the high cost of the latest models.
Evaluating iPhone Models Under $500
When considering an iPhone under $500, one has several options. The iPhone SE offers affordability and performance with its A13 Bionic chip. It supports iOS updates, ensuring security and feature enhancements. With its Retina HD display, users enjoy clarity and vibrant colors. For those needing more screen real estate, the iPhone XR presents a larger display and a robust A12 Bionic chip for efficient performance.
Finding iPhones like the iPhone 11 and the iPhone 11 Pro Max within this budget is feasible, mainly when one opts for refurbished or certified pre-owned models. These models come with more advanced camera features like Night Mode and Portrait Mode, and the iPhone 11 Pro Max boasts an OLED display for deeper blacks and contrast.
Budget-conscious consumers also consider storage. Options such as the 128GB variant provide ample storage without significantly increasing cost. Used and refurbished models often come at reduced prices, making higher tier models like the iPhone XS Max accessible without surpassing the $500 mark.
Apple ensures that even their older models, like the iPhone 8, get the latest iOS updates, making them secure and up-to-date. This dedication to long-term support adds value to purchasing older models as budget options. It’s important to note that the term ‘refurbished’ indicates a device has been professionally restored to full working condition, often with a warranty, whereas ‘used’ simply denotes a pre-owned device.
Buyers choosing an iPhone under $500 should weigh factors like performance, display quality, camera capabilities, and ongoing software support. A careful assessment of these specifications will guide one to the best iPhone within a lean budget.
Key Features and Considerations
When looking for an iPhone under $500, one should consider key aspects such as performance, camera quality, battery life, and connectivity. This ensures the phone not only fits the budget but also meets their needs.
Performance and Gaming
iPhones under $500 typically feature the A13 or A15 Bionic chip, providing smooth performance and efficient gaming. These chips can handle most games from the App Store with ease.
Camera and Photography
The cameras offer high-quality photography with features like portrait and night modes. An affordable iPhone might have a capable rear camera system suited for everyday shots.
Battery Life and Charging
Battery life varies across models. Most iPhones support fast charging, with some offering wireless charging options. Users should look for a model that balances longevity with convenience.
Network and Connectivity
Affordable iPhones support 5G and various carriers like Verizon and AT&T, ensuring fast internet speeds. Checking compatibility with one’s network is crucial.
Design and Display
Even on a budget, some iPhones feature OLED displays, known for vibrant colors and sharp contrast. A sturdy design and an appealing display are common, despite a lower price.
Storage and Accessibility
Storage space often starts at 128 GB for iPhones under $500, providing ample room for apps and media. Accessibility features are robust across iOS, catering to a broad audience.
Software and Ecosystem
Expect regular iOS and security updates. The Apple ecosystem is known for its integration, with iPhones working seamlessly with other Apple devices and services.
Budget Considerations
Budget phones provide an entry point to Apple’s ecosystem. They save money over flagship models while still delivering a quality smartphone experience.
