Welcome to our monthly Top 5, where we feature the best smartphones that offer premium features at a reasonable price. You don’t have to compromise on speed, beauty, or quality when you choose one of these amazing smartphones that cost less than $500. Let’s dive in and discover the best smartphones you can get for your money.

Best Smartphones Under $500

1. iQOO Neo8 Pro

If you are looking for the most powerful phone for under $500, you might want to check out the iQOO Neo8 Pro. The new device runs on a MediaTek Dimensity 9200+ processor (4 nm), 16GB of RAM and 256GB of storage.

The iQOO Neo8 Pro boasts a huge 6.78-inch AMOLED screen with QHD resolution, 144Hz refresh rate and 2160Hz PWM dimming.

The phone also has an amazing camera setup as well. It includes a 50MP main camera with f/1.9 aperture, OIS and Pixel Shift, and an 8MP ultra wide camera. For selfies, it has a single 16MP camera.

The iQOO Neo8 Pro comes with a 5000mAh battery that supports 120W fast charging, which can charge 50% in 9 minutes. It also has an IR emitter as extra feature.

Best Smartphones Under $500

2. POCO F5 Pro

Next, we find the POCO F5 Pro, which offers high-end features at a low price of less than $500. The device is powered by a powerful Snapdragon 8+ Gen1 processor, 12GB of RAM and 256GB of storage.

The front features a large 6.67-inch AMOLED screen with Full HD+ resolution, a 120Hz refresh rate and a 480Hz touch sampling rate. While the back consists of a 64MP main camera, an 8MP ultra-wide camera and a 2MP macro camera. The front houses a 16MP camera for selfies.

The phone runs on a massive 5160mAh battery that supports 67W fast charging and 30W wireless charging. The smartphone sports a 3.5mm audio jack and an IR emitter.

Best Smartphones Under $500

3. Realme GT Neo 5

The Realme GT Neo 5 is another phone that has similar specifications to the POCO F5 Pro. It does indeed pack a Snapdragon 8+ Gen1 processor, along with a maximum of 16GB of RAM and 256GB of storage.

The phone has a slightly larger 6.74-inch FHD+ AMOLED display with a very high 144Hz refresh rate and a peak brightness of 1400 nits.

The GT Neo5 features a 50MP main camera, an 8MP ultra wide camera and a 2MP macro camera for the rear cameras. For the front camera, it has a 16MP camera for selfies.

The phone packs a 5000mAh battery that supports a super fast 150W charging technology. It also has an IR emitter as an additional feature.

Best Smartphones Under $500

4. Google Pixel 7a

Android fans will love the Google Pixel 7a. The phone runs on a Google Tensor G2 chip (5 nm), 8GB of RAM and 128GB of storage.

The smartphone features a 6.1-inch OLED display with Full HD+ resolution, a 90Hz refresh rate and 240Hz touch sampling rate.

The Pixel 7a has a great camera setup. It includes a 64MP Sony IMX800 main camera with f/1.9 aperture and OIS, and a 13MP ultra wide angle camera. For selfies, it has a 13MP camera with a 20mm (ultrawide) lens.

The phone has a 4385mAh battery that can be charged at 18W with a cable or at 7.5W wirelessly. It also has an infrared emitter

Best Smartphones Under $500

5. iQOO Neo 8

Finally, the iQOO Neo 8 is another superb choice for under $500. The iQOO device sports powerful Snapdragon 8+ Gen1 chip, 12GB of RAM and 256GB of storage space.

The Neo 8 then features a stunning 6.78-inch AMOLED display with QHD+ resolution, a 144Hz refresh rate and a 480Hz touch sampling rate.

The device also has a good camera setup, with a 50MP main sensor and a 2MP depth sensor. For selfies, it has a 16MP front-facing camera.

The phone packs a long-lasting 5000mAh battery that can be charged quickly with the 120W fast charging technology. There’s an IR emitter as well.