Best Electric Bikes Under $500

Looking to jump onto the electric bike trend? Well, you’ve come to the right place then.

Electric bikes have exploded in popularity in recent years, allowing riders to conquer hills and explore more areas and longer distances with less effort. But with many premium e-bikes costing $1,000 or more, it can be a pricey investment.

The good news is that the booming e-bike market has also given rise to an increasing number of affordable options. While you’ll have to compromise on some features and components at lower price points, it’s now entirely possible to score a quality electric bike for under $500.

From folding commuters to recreation-focused cruisers, we’ve put these affordable electric steeds to the test to find the top performers that deliver excellent value for the money. Whether you’re looking to ditch your car for short city trips or just want a little extra oomph on your rides, an e-bike under $500 could be the perfect car-free solution.

Ancheer 26″ Electric Bike

Pros:

• The 48V battery with 374Wh capacity is respectable and should provide a decent range of 35-55 miles on lower assist levels, which is great for daily commuting or longer recreational rides.
• The 750W peak-rated motor packs a good punch of power to help tackle hills and headwinds with ease.
• The 21-speed drivetrain gives plenty of gearing options to find the right one at any time.
• The front suspension fork adds some comfort and capability on rough paths/trails.
• I like the inclusion of both twist throttle and pedal assist modes for different riding styles.

Cons:

• While the battery/motor specs are solid, the rest of the component spec seems quite basic/entry-level, especially for a bike marketed as an “electric mountain bike.” Things like lower-end drivetrain components, basic wheels/tires, etc.
• The aluminum frame is probably heavier than a more premium mountain e-bike frame.
• Like many ebikes in this price range, it is a hardtail (no rear suspension)

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Overall, for the ~$500 price point, the Ancheer model seems like a surprisingly capable and well-equipped commuter ebike that can also handle some light off-road duty. The range, power, and features are excellent value. However, very serious off-road enthusiasts will likely want to spend more for a higher-end electric mountain bike with better components and off-road capability. This model is probably best suited for casual riders, commuters, and light trail use rather than hardcore mountain biking pursuits. But it does seem to offer a great electric ride experience for the money and it’s an excellent starter electric bike.

Jasion EB5 Electric Bike

The Jasion EB5 Electric Mountain Bike looks like a very well-rounded and capable ebike, especially for its relatively affordable price point.

Pros:

• The 350W brushless motor puts out a respectable amount of power for assisted riding up to 20 mph.
• The 360Wh removable battery gives a solid range of 25-40 miles, which is great for commuting or recreational rides.
• I really like the versatility of having multiple riding modes – pedal assist, throttle, regular pedaling, and even a handy “boost” mode for helping on uphill sections (This is a class 3 ebike)
• The suspension fork, 7-speed drivetrain, and 26″ tires make it well-suited for light off-road riding on trails and handling rougher terrain.
• Useful features like LED lights, LCD display, and mechanical disc brakes add to its well-rounded package.
• The classic mountain bike styling and relatively light 49 lb weight give it good curb appeal.

Cons:

• While capable, the components are still quite basic – you won’t get the premium high-end parts of a $2000+ electric mountain bike for performance and durability.
• No information on the quality of the drivetrain components, which can make a difference.
• 350W is decent power but not super torquey for really steep hill climbing. Plenty for roads but off-roading could be a little limited.
• Range on highest assist could be limited to the lower end of 25 miles.

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Overall, the Jasion EB5 seems to strike a really nice balance of performance, versatility and quality components for being in the sub-$500 price range. It has enough electric power to be really fun and useful for commuting, exploring trails, running errands, etc. The multiple riding modes are a great feature as well.

For more casual ebike users or those on a tighter budget, I think it would make an excellent affordable electric mountain bike that can handle paved or unpaved routes. More hardcore off-road enthusiasts may want to spend more for a higher-end model or go with the Ancheer. But for the money, the EB5 looks like a very well-equipped and capable electric bike that should satisfy most people’s needs. I can definitely recommend it for the value.

Heybike Race Max Electric Bike

Pros:

• That 750W peak-rated motor has plenty of power when you need it.
• 28mph top speed is thrilling and faster than many budget/commuter models.
• The large 600Wh battery gives excellent range up to 40 miles on a single charge.
• 27.5″ wheels and front suspension make it capable for light off-road riding.
• Reasonable 52.9 lb weight for an affordable eMTB with these specs.
• Niceties like lights, LCD display, and twist throttle add versatility.

Cons:

• While very powerful, the geometry and high-step frame design seem more geared towards urban/commuter use than aggressive trail riding. This isn’t a dedicated mountain bike layout.
• Many drivetrain and brake parts are budget gear. Normal for this price range but upgradable.
• The front suspension fork is a basic suspension.

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So in terms of the core electric powertrain, the Race Max looks downright electrifying and offers premium power and range you’d expect from much pricier bikes. That 750W nominal motor is purpose-built for extreme performance. It also achieves the 28 mph limit on class 3 ebikes which is what you want.

However, the rest of the bike seems designed more as an affordable urban electric commuter that can handle some light off-road use, versus a proper electric mountain bike built for true trail shredding.

For casual riding, commuting, flow trails and having a very powerful and fun electric bike experience on a budget, the Race Max looks exceptionally capable. This may not have the high tech of the more expensive models, but for a less-than-$500 model this is about as good as it gets.

Overall, I’m seriously impressed by the Race Max’s power numbers and range for the price point. It makes hugely exciting performance incredibly accessible. Just know that it’s more of an urban electric bike that can dabble off-road, versus a precision off-road machine. For most riders’ needs through, this electric bike looks like an insane value package.

Conclusion

At the end of the day, the electric bikes in this under $500 price range make some hard compromises to hit that affordable pricepoint. You’ll miss out on higher-end components, powerful motors, longer-range batteries and other advanced features found on e-bikes costing $1,000 or more.

However, these budget-friendly models still deliver a legitimate e-bike experience that allows you to extend your range and tackle hills with less effort than traditional pedal power alone. They represent an extremely accessible entry point into the world of electric cycling.

If you’ve been eager to experience the joys of e-biking but were put off by the high prices of many offerings, one of these affordable options could be the ideal way to dip your toes in the water. While you may eventually want to upgrade to a more premium electric bike down the road, a budget model under $500 lets you get riding right away without the bigger upfront investment.

For commuters, recreation riders and anyone looking to add a little electrified boost to their pedaling, these value-priced e-bikes make the technology eminently affordable and accessible. You may have to compromise in some areas, but you’ll still enjoy the core benefits that have made electric bikes so popular at a price that won’t break the bank.