These 5 phones made our list of the best smartphones in the world, and they all cost $500 or less

Today's smartphones are more expensive than ever before. While the priciest version of Apple's newest iPhone would have started at $770 in 2016, today's top-of-the-line model begins at $1,100.

Android alternatives aren't much cheaper if you're looking at flagship smartphones from companies like Samsung, LG, and Google. Samsung's Galaxy S10 started at $900 when it debuted, for example, while Google's Pixel 3 was priced at $800 at launch.

But that doesn't mean you need to pay close to $1,000 to get a great smartphone. If you don't mind sacrificing certain features and opting for an older model, there are several noteworthy options that will only cost about half the price of the $1,000 iPhone XS, or even less.

Here's a look at five devices we ranked as being among the 20 best smartphones in the world that you can buy for $500 or less.