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Do I wish I was as rich as Elon Musk? Tesla yeah! Am I even remotely sniffing an amount in my bank account close to his? Heck no. If you’re reading this, you probably aren’t either. No sweat! I made a list of the best treadmills under $500 for your viewing pleasure. 

I’m here to help you find your best budget treadmill, even if your budget is the equivalent of Patrick Star from Spongebob saying, “I have $3.” Okay, actually I can’t get you an entire treadmill for $3, but we’ve tested dozens of the best treadmills and written the ultimate treadmill buying guide so I know what I’m talking about. Our product testing team is comprised of former collegiate athletes like myself, certified personal trainers, and competitive triathletes.

5 Best Treadmills Under $500

Best Overall Treadmill Under $500: Sunny Health & Fitness SF-T7603

Good for: Small spaces or those who enjoy light jogging and walking 

Best Overall Treadmill Under $500

Sunny Health And Fitness SF - T7603 Treadmill

Product Highlights

  • Compact and foldable
  • Simple to build solo
  • Foldable with a gas shock for gentle release
  • Handles have speed adjustments
  • 2.2 CHP motor

Pros & Cons

Pros

  • Compact
  • Easy to fold
  • Lightweight
  • Sturdy, all-steel frame
  • Shock absorption
  • Reviewers report easy assembly

Cons

  • Weaker motor will not support sustained or intense runs
  • Small running deck not suited for taller individuals
  • Some users report the lifespan is very short

Bottom Line

If you’re looking for a seriously affordable, compact, portable and simple treadmill, the Sunny Health & Fitness SF-T7603 folding treadmill may be for you. While this machine won’t support sustained or intense running, it’s a value purchase for walkers, joggers and casual runners.

If you’re only going to spend around $300 for a treadmill for home use, I’d hands down pick the Sunny Health and Fitness SF-T7603. This brand makes exceptionally good cardio machines for this price point––we’re also fans of their budget-friendly rower, the Sunny Health and Fitness SF-RW5801

In terms of the treadmill, you won’t be disappointed with the price. This machine has nine preset programs and is a great option for both walking and jogging. It feels more durable than other super cheap options I’ve tried, but obviously, it isn’t a Peloton Tread by any means. 

If you’re looking for a treadmill that will fold (and unfold) easily, you’ve found your match! The SF-T7603 has a gas shock to help the deck lower safely. Plus, since it’s a folding treadmill, it can be stored in a closet or out of the way while not in use. With this, though, comes a small running surface; win some, lose some.

coop jogging on sunny health and fitness sf t7603

In terms of other things I’m not wild about, the 220-pound user weight capacity tops the list. Generally, I like to look for a 300-pound weight cap for a mid-range treadmill, but I am keeping in mind the price tag when making this statement. 

The display of the SF-T7603 is on the primitive side–– expect to see standard buttons like program, mode, stop, and start. You’ll also be able to view a few metrics on the small LCD display, like your current speed and heart rate (thanks to the pulse sensors on the handle bars).

Check out our full Sunny Health & Fitness SF-T7603 Treadmill Review.

Price:Around $300
Footprint:62” L x 27”W x 47” H
Warranty:3-year frame, 180-day parts
Weight Capacity:220 lbs
Motor Horsepower:2.2 CHP
Speed0.5 – 9.0 MPH

Best Under Desk Treadmill Under $500: GoPlus 2-in-1 Treadmill

Good for: Walking while working from home, watching TV, being on a phone call, or listening to music

Best Under Desk Treadmill Under $500

GoPlus 2-in-1 Folding Treadmill

Product Highlights

  • Fits seamlessly under most standing desks
  • Quick assembly
  • Folds extremely flat for storage
  • Comes with remote to change speed with ease

Pros & Cons

Pros

  • Lightweight
  • Easily portable and stored
  • Emits minimal noise
  • Very easy assembly
  • Bluetooth speaker on console
  • Phone mount
  • Remote control
  • Safety key
  • Ideal for use in small spaces and those who are casual joggers/walkers
  • Transport wheels

Cons

  • Not intended for sustained or fast running
  • Smaller than typical running surface
  • Does not fold once handrails are installed
  • Handrails do not adjust and are at a fixed 3.5 feet (not ideal for taller individuals)
  • Only two modes available
  • Max speed is 8 miles per hour
  • No incline/decline
  • Can not mount a tablet

Bottom Line

The GoPlus 2-in-1 Folding Treadmill is a great value purchase for any walker or casual jogger looking to save space while still getting in a solid cardio session. If you are looking for a treadmill to train for your next marathon on, this is not the one for you.

So many of us spend our days working from home, with little movement to break up the day. Solve this problem by purchasing an inexpensive under-desk treadmill, like the GoPlus 2-in-1! This compact machine fits well under almost all standing desks, and folds flat when you want to store it after hours.

The assembly process is really simple, but be warned––if you install the included handrails for extra support, you won’t be able to fold the machine quite as compactly. However, this may be an added safety step for you, which in that case, right on. 

Coop walking on the Goplus treadmill.

Pro tip: for the love of all things good––don’t lose the freakin’ included remote. You won’t be able to change the speed or even turn the treadmill on. I’d recommend deciding on a dedicated spot for it so you never forget where it is. 

The one thing I don’t love about the GoPlus? The super short, three-month warranty. I mean come on, I know this treadmill is only $330, but I feel like that isn’t even close to enough time for a warranty. Although this is worth noting, the founder of GGR, Coop, owns and uses this treadmill everyday, and hasn’t had any issues with durability.

Take a look at our full GoPlus 2-in-1 Treadmill review.

Price:$330
Footprint:49” L x 27” W x 42” H
Warranty:3 months
Weight Capacity:265 lbs
Motor Horsepower:2.25 CHP
Speed0.6 – 7.5 MPH

Best Treadmill for Walking Under $500: XTERRA Fitness TR150

Good for: Beginners who want to regularly walk on a compact and budget-friendly treadmill 

Best Treadmill for Walking Under $500

XTERRA Fitness TR150 Folding Treadmill

Product Highlights

  • Simple to use
  • Lifetime warranty on the frame
  • Easy to build
  • 12 preset programs
  • Deck has sub-par cushioning

Pros & Cons

Pros

  • Foldable
  • Portable with transport wheels
  • Ideal for beginner walkers to speed walkers
  • Lightweight
  • Great warranty
  • Easy-to-read 5-inch LED display
  • 12 preset programs onboard

Cons

  • Only 2.25 horsepower motor
  • Some reviewers report it is noisy
  • Water bottle holders on console reportedly do not fit normal bottle sizes
  • Users claim they received an error code after one use
  • Several reviews reported that the dimensions provided are inaccurate
  • Not suited for experienced and heavy users

Bottom Line

The XTERRA TR150 is a starter treadmill available on the lower end of the budget scale offering a commendable lifetime frame warranty and features comparable to competitive models. If you are just beginning your fitness journey, this is a great option for you.

Ready to get a jump on your fitness and start putting one foot in front of the other (did you sing that part, or is that just me…)? The XTERRA Fitness TR150 is an excellent treadmill to help you achieve all of your personal walking goals. This cardio machine is user-friendly with large buttons and a simple LCD display, making it a great add to most home gyms. 

Obviously, you won’t find crazy interactive programming like iFIT, but you will find 12 preset programs to get your sweat on. Plus, this under-$400 machine has a lifetime frame warranty, which is almost unheard of on such an affordable treadmill. 

XTERRA TR150 coop

Although the XTERRA is foldable and is our choice for the best folding treadmill under $500, I recommend using this feature with caution. Since the TR150 doesn’t have a gas shock on the deck of the machine, it doesn’t softly come down when unfolded. This can be a major hazard for little hands, paws, and feet, so proceed with caution.

If you’re someone who suffers from joint pain, I probably wouldn’t choose this treadmill. Although the XTERRA has a lot going for it, cushioning and shock absorption is not one of those things. Compared to even mid-range treadmills, the XTERRA falls pretty flat in the cushy-deck department.  

However, for a walking treadmill, especially with a lifetime frame warranty, the XTERRA gets the job done––and for a great price.  

Read our full XTERRA Fitness TR150 review.

Price:$366
Footprint:63.4” L x 28.75” W x 51.4” H
Warranty:Lifetime frame, 1-year motor, 90-day labor, 90-day deck
Weight Capacity:250 lbs
Motor Horsepower:2.25 CHP
Speed0.5 – 10.0 MPH

Best Treadmill Under $500 for Small Spaces: UREVO 2-in-1 Treadmill

Good for: Apartments, condos, small homes or shared spaces

Best Treadmill Under $500 for Small Spaces

UREVO 2-in-1 Under Desk Treadmill

Product Highlights

  • Folds flat to fit under beds and couches
  • Comes ready to go; no assembly required
  • Easy to move
  • Can also be used under a standing desk
  • No incline

Pros & Cons

Pros

  • Under $400
  • Handle can be folded under to use under a desk
  • Easy to store and good for people in tight spaces

Cons

  • Short and skinny deck not ideal for running
  • User weight capacity below industry standard at 265 lbs
  • Max speed of 7.6 mph

Bottom Line

If you are looking for a foldable treadmill for under $500, the UREVO 2 in 1 is a great option for you.

Living in small spaces can be a real logistical challenge. Just ask GGR writer Anthony O’Reilly. The New York native lived in a 300-square-foot apartment with his cat and girlfriend during the height of the COVID-19 pandemic. Anthony mentioned he would have loved to have a convenient way to walk indoors, but didn’t feel he had space for a treadmill. Ah, if only he had known about the UREVO 2-in-1. 

This uber-small cardio machine can be folded almost completely flat. I personally tested its foldability, and was amazed that it fit against walls, under beds, and in closets without any issues. It’s also simple to move solo, since it weighs just 59 pounds. Plus, when the UREVO arrives at your doorstep, you’ll be ready to start walking in under 15 minutes, since the machine comes almost entirely pre-assembled.

Caroline on the UREVO 2 in 1 treadmill

With so many benefits for such a cheap price, you know there are bound to be some negatives. Firstly, the UREVO doesn’t have a long deck. Like at all. If you’re over 5’9” like me, forget about running (and maybe even jogging). The length of the deck is only 42.9 inches, and the industry standard is around 50-55 inches.

It is also worth noting that there are no incline options on this machine. To be fair, the UREVO is supposed to be used for more gentle movement, like walking or light jogging, versus climbing a mountain. 

Read our full UREVO treadmill review.

Price:$329
Footprint:54.7” L x 26.4” W x 5.1” H
Warranty:1-year warranty
Weight Capacity:265 lbs
Motor Horsepower:2.5 CHP
Speed0.5 – 7.6 MPH

Best Incline Treadmill Under $500: Egofit Walker

Good for: Those who want an affordable treadmill with an incline

Best Incline Treadmill Under $500

Egofit Walker M1/M1T Smallest Under Desk Electric Walking Treadmill

Product Highlights

  • Compact treadmill
  • Incline set to 5%
  • Remote control included
  • Arrives assembled
  • Works well on carpet

Pros & Cons

Pros

  • Under $500
  • No assembly required
  • Control speed with app or remote
  • Has transport wheels

Cons

  • Fixed incline
  • Max capacity is under 220 lbs
  • Small deck
  • 1-year warranty

Bottom Line

The Egofit Walker is a unique under-desk treadmill offering a fixed 5% incline for use during the workday or non-work hours. For it's compact size, it has a powerful motor and can be used at speeds up to 3.73 mph.

Equipped with a 5% incline, the Egofit Walker is an affordable machine for anyone who’s looking to prepare for hill climbs are simply wants a more challenging walking workout. GGR performance editor and expert product tester Anthony O’Reilly found during his testing that his legs, specifically his calves, were sore after walking on this machine for a while.

“You don’t realize it until you step off of it but this is a hard workout to do for more than 10 minutes,” Anthony says, “especially if you’re using it while working on a treadmill desk.”

exo fit walker in use

There are treadmills under $500 that have steeper inclines but they take up more room than the Egofit Walker.

It should be noted that this treadmill isn’t good for tall runners or larger people due to the low 220-pound weight capacity and smaller engine (only 2 horsepower). Anthony is near the weight limit and said he noticed the engine struggling while he used it, though Kate Meier, GGR’s head of content and product tester who’s well below the 220-pound limit, said she’s had no issues using it on a near-daily basis.

It comes with a remote control so you can adjust the speed while on the treadmill.

Price:$399
Footprint:38.39″ D x 21.85″ W x 6.89″ H
Warranty:1-year warranty
Weight Capacity:220 lbs
Motor Horsepower:2 HP
Speed0. 5 – 3.1 MPH

Other Treadmills Under $500 We Researched

Surprisingly, there are tons of home treadmills available for under $500, especially on Amazon. However, a lot of them just aren’t that high-quality, plain and simple. Here are a few that didn’t quite make the cut:

SereneLife Folding Treadmill: Although this machine is just over $300, it didn’t quite make the cut on this list (even though the lovely reviewers of Amazon seem pleased enough). The SereneLife Folding Treadmill caps out at 6 MPH, and the running deck is just 15.7” x 39.3″. As Randy Jackson on American Idol used to say, “It’s a no from me, dawg.”

FondRun Upgraded Folding Treadmill: I’m impressed by the 3.25 CHP motor of the FondRun Folding Treadmill, but based on the reviews, the machine is low-quality and made with lots of plastic.

RUNOW Folding Treadmill: You won’t exactly be sprinting on the RUNOW Folding Treadmill, since the machine caps out at just 8.1 MPH. However, the 280-pound weight capacity isn’t horrible by any means. 

How We Picked and Tested the Best Treadmills Under $500

When testing any type of exercise equipment for review, we carefully analyze many different factors. Here are the the things we took into consideration when choosing treadmills for this list:

  • Affordability: Is the treadmill under $500? Are there any financing options available?
  • Compactness: Is this a foldable treadmill? Can it be easily moved or stored? Is it space-saving or a compact treadmill?
  • Warranty: Is there a warranty in place? How long will it last?
  • Durability: What is the treadmill made of? Does it feel sturdy?
  • Weight limit: What is the maximum weight capacity for this product? Is this an inclusive option?
  • Assembly: Will the common person be able to assemble the product with ease?
  • Deck size: Is this treadmill better suited for walking or running based on the size of the running area?
  • Display: Does this machine have an LCD or LED display? Is there a remote control? Does the display show calories burned? 
  • Belt: Is the running belt non-slip? Does it have shock-absorbing qualities? 
  • Type of Treadmill: Is this an electric treadmill or manual treadmill?
  • Speed Range: What is the top speed of this treadmill?
  • Extras: Does the machine have a device holder? What about Bluetooth connectivity?

Benefits of Treadmills Under $500

So why the heck should you buy a treadmill under $500 anyway? Well, I’m glad you asked! Check out our top reasons for adding an inexpensive piece of cardio equipment into your fitness repertoire: 

Price 

Obviously, one of the biggest benefits of treadmills under $500 is that you’re saving money. While these cardio machines aren’t quite as nice as more expensive models, they still provide intense aerobic workouts.

RELATED: HIIT Treadmill Workout

Footprint

Since these treadmills cost several hundred dollars less than most on the market, they’re likely to be smaller. That might not be good for most people, but for those in apartments or compact workout areas, it can be a huge benefit. 

Improved Cardio Fitness

Just like treadmills of any other cost, these are going to increase your heart rate and help improve several health markers such as blood pressure and the amount of calories you burn in a day. 

“Treadmills are one of the easiest ways to get more physical activity throughout the day,” says certified personal trainer Anthony O’Reilly. “It doesn’t have to be a fancy one with a big screen either, just as long as it forces you to move in a way that’s challenging.” 

Buying Guide: What to Look for in Treadmills Under $500

There are several factors you should take into consideration before clicking “Add to Cart” with any treadmill under $500:

Affordability

It goes without saying, but make sure you can afford the treadmill. There’s financing plans for many of them if you want to break them into monthly payments. However, some really cheap treadmills won’t have financing options. Make sure to save up in advance for any large fitness equipment purchases. 

Space 

Check the dimensions of each treadmill to make sure it can fit in your workout area, whether that’s a studio apartment or a garage gym. Most budget-friendly treadmills have a smaller footprint, but it is still wise to take a look at this before purchasing. 

Durability

Look, no treadmill under $500 is going to last forever. That said, there are some that are a little more durable than others. You’ll want to find one made with decent materials and maybe a few years’ warranty. However, don’t have unrealistic expectations for such an inexpensive cardio machine.

Motor

Again, a cheap treadmill is going to mean cheap parts. Look up what type of motor each treadmill uses and make sure it can handle the duration, amount, and type of workout you want to be able to do. Typically, you want a 3.0 CHP motor for running, but for walking, the HP matters less.

Weight Capacity

This is especially important for taller people, but you’ll want to make sure the treadmill can support your weight or the weight of anyone else who plans on using it.

Best Treadmills Under $500 FAQs

Who has the best prices for treadmills?

I’m personally a big fan of looking on Amazon for treadmills under $500. With so many different brands available (plus frequent free shipping), it might not be a bad place to start. You’ll notice a lot of the links to the treadmills in this roundup lead you to Amazon, as it is one of the most cost effective places for super-budget cardio machines.

What does a decent treadmill cost?

This all depends on what you think a decent treadmill consists of. Does this machine need to have Bluetooth capabilities, adjustable incline, workout programs, or even a touchscreen? Figuring out what you want in your new treadmill is important before deciding how much you’re going to spend. In my book, as long as you’re getting a good cardio workout in, it doesn’t matter much about anything else.

What will come on a treadmill that only costs $500?

Generally speaking, you’ll find things like an LCD display, three or four manual incline settings, a safety keypossibly a soft drop folding mechanism, and a tablet holder. Others may (or may not) have transport wheels, pulse sensors, handlebars, or a heart rate monitor. More expensive treadmills have other extras, like a touchscreen or interactive programming you won’t find on a cheaper pick.

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