You don't need to spend over $1,000 to get a great iPhone.

In 2026, there are plenty of excellent iPhones available for under $500, especially if you're open to buying refurbished. Whether you're upgrading from an older device, shopping for your first iPhone, or looking for a reliable phone without stretching your budget, there are several models that still offer fast performance, excellent cameras, and years of software support.

In this guide, we'll walk you through the best iPhones under $500, explain which ones to avoid, and help you find the best value for your money.

Tip: Refurbished iPhone 15 and iPhone 15 Pro models can sometimes be found below the $500 mark, making them some of the best value purchases if you shop around.

Many people assume "refurbished" means "old" or "damaged," but that's often not the case.

A quality refurbished iPhone can provide nearly the same experience as buying new while saving hundreds of dollars.

Some advantages include:

• Lower price
• Better value for money
• Less electronic waste
• Access to higher-end models within your budget

For example, instead of buying a brand-new entry-level iPhone, you may be able to afford a refurbished iPhone 15 or even an iPhone 15 Pro for around the same price.

The iPhone 13 continues to be one of the easiest recommendations in 2026.

Even though it's a few generations old, it still feels modern thanks to its fast processor, excellent cameras, bright OLED display, and dependable battery life.