Best Budget Phone 2026: Award-Winning Picks Under $500
Sub-$500 phones have caught up dramatically in 2026. You can now get genuinely good cameras, smooth 120Hz displays, and 4–5 years of software updates for less than half the price of a flagship. We use MKBHD's Best Value award as the anchor — the phones below are the ones that actually delivered, year after year.
Updated · 4 picks · Rankings reflect MKBHD Smartphone Awards outcomes.
How we picked
Every phone here won or placed at MKBHD's Best Value award between 2022 and 2024 and is currently available under $500. Sorted newest-first, with quick pros and cons.
- #1
Runner-up at MKBHD's 2024 Best Value awards. The Pixel 8a packs the Tensor G3 chip and Google's signature computational photography into a $499 frame — and Google now ships seven years of OS updates on the A-series, which is unprecedented.
Pros
- Seven years of OS updates
- Best computational photography under $500
- Clean Android experience
Cons
- Tensor G3 isn't fast
- Plastic frame
- #2
Won Best Value at the 2024 Smartphone Awards. The Phone 2a delivers a genuinely premium-feeling design (Nothing's iconic Glyph interface), a clean Android skin, and competitive cameras for around $349 in 2026 — the best value pure-and-simple.
Pros
- Most distinctive design under $500
- Clean Nothing OS
- Currently around $349
Cons
- US availability remains beta-only
- Camera trails Pixel 8a in low light
- #3
MKBHD's 2023 Best Value winner. Samsung extended A-series updates to four major Android versions, so the A54 (released 2023) still has runway through 2027. Excellent display, OK camera, and now usually $250–$350.
Pros
- Big discount vs launch price ($249–$349)
- Bright AMOLED display
- IP67 water resistance — unusual at this price
Cons
- Slow Exynos chipset
- Software updates roll out slowly
- #4
Runner-up at MKBHD's 2023 Best Value awards. The Pixel 7a is now widely available used at $200–$300 — the cheapest way to get Google's photography pipeline. Battery is the weakest link, but for a budget pick it's still hard to beat.
Pros
- Best photography under $300 used
- Clean Android, fast Pixel updates
- Excellent display for the price
Cons
- Battery life is the shortest on this list
- Older Tensor G2 chip
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Frequently Asked Questions
What's the best phone under $500 in 2026?
The Google Pixel 8a (runner-up at MKBHD's 2024 Best Value awards) is the strongest all-rounder under $500 thanks to seven years of updates and Google's photography pipeline. Nothing Phone 2a (2024 winner) is the design pick at $349.
Are budget phones worth it in 2026?
Yes — the gap to flagships has narrowed dramatically. You'll lose telephoto cameras, the fastest chipsets, and some premium materials, but day-to-day performance and update commitments now rival flagships from 2–3 years ago.
Pixel 8a vs Pixel 9a in 2026 — which to buy?
If both are available, the Pixel 9a is a slight upgrade but the 8a (which placed at MKBHD's awards) is usually $100+ cheaper used. We recommend the 8a unless you specifically need Tensor G4's AI features.
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.