The 9 Best Electric Bikes Under $500 Of 2024 Helpful Guide

Updated November 29th, 2023

Electric Bikes are a great way to get around these days. They can be fast and exciting to ride. You can take them on public transportation too. Electric bikes are much less expensive than driving a car for your commute and errands. There are many great e-bikes out there for very reasonable prices these days. $500 is about as low as you can go and still get a full featured e-bike.

See below for our top picks for best electric bikes under $500. Keep reading for the rest of our recommendations and an electric bike guide, and FAQ.

Electric Bike Guide

There is a lot of things to think about when purchasing an electric bike. Where do you plan on riding it? How far do you need to go on it. Do you need to transport it on public transportation or the trunk of your car? How fast do you want to go? Let’s explore all of these electric bike questions below.

What are the benefits of an electric bike?

There are several benefits to an electric bike. Let’s look at a few of them.

• They allow you to ride farther and faster than you could with a conventional bike.
• People who can’t ride a regular bike due to lower body injury can ride e-bikes.
• You can still use an e-bike to lose weight. This is especially true for people with injuries who can’t do other exercises.
• E-bikes make great commuter vehicles. They are much cheaper to own and operate than a car.
• They are fun to ride. Zipping around on a bike has never been boring no matter what kind of bike it is.

What should I look for when buying an electric bike?

Operating modes

There are a few different operating modes for electric bikes. They are motor powered and pedal assist. An electric bike may operate in one or both modes and also as an unpowered bike depending on the bike. Some electric bikes are able to switch modes.

• Powered Bike – The motor can power the bike on its own with no pedaling input. The bike may or may not have pedals.
• Pedal Assist – The motor provides power only when the rider is pedaling. A sensor on the pedal detects when the bike is being pedaled and powers the motor only when it’s being pedaled.
• Unpowered bike – You pedal the bike with no electric assist or power.

Motor power

Most electric bikes in the under $500 price range have a motor that is between 250 and 350 watts of power. For reference 1 horsepower is equal to 745.7 watts. The more power an e-bike has, the easier it will be to go up hills, and the faster it can go.

Battery size

Most under $500 electric bikes have 36 volt lithium batteries. An electric bike with more battery capacity will have more range and can have more output power. Higher capacity lithium cells can discharge at a higher current without damaging the cells. More capacity is better. The downside to more battery capacity is that the batteries get bigger and heavier. There is only so much space on a bicycle frame to store batteries. If you need to carry your electric bike, battery weight becomes an important factor.

Bike Type

You can get electric bikes in all of the common bike types these days. The most popular types of bikes are listed below.

• Road bike – These bikes are primarily meant for riding on smooth paved surfaces. They have a crouched down riding position with drop handlebars.
• Mountain bike – These bikes are meant for riding off road on trails. They have flat handlebars and a more upright riding position. Most have front suspension or full suspension.
• Hybrid bike – These are a cross between mountain bikes and road bikes. They have a more upright riding position and flat handlebars similar to a mountain bike. They are lighter weight with tires and wheels that are more pavement oriented.
• Gravel bike – These are another cross between a mountain bike and a road bike. They have droop handlebars and crouched down seating position of a road bike with wheels and tires that are more oriented towards gravel or dirt road surfaces
• Commuter bike – These are an offshoot of a road bike. They tend to have flat handlebars and upright seating position. They have wheels and tires meant for pavement use.
• Folding bike – This is a bike that can fold in half to be more portable. They tend to be road bikes with pavement oriented tires and wheels and flat handlebars.

Driveline

The bike will have some combination of chainrings (front gears) and cogs (rear gears). 3 x 7 drivelines with 3 chainrings and 7 cogs are really common in bikes under $1000. Since e-bikes also have motor assist they don’t always have a need for really low gearing. Some bikes have a 1 x 7 or single chain ring and 7 cogs.

Higher end drivelines usually mean more range in gear ratios. This means you get better climbing (low gear) and better top speed (high gear).

As you go up in cost bikes transition from a 3 x 7 system to a 3 x 8 or 3 x 9 system. Then to a 2 x 10 and finally to 1 x 11 and 1 x 12 on high end bikes. 1 x 12’s are wonderful and simple to use since they have a lot of range and no front derailleur to worry about.

This may seem counter intuitive since higher end bikes lose the front derailleur and have fewer parts. Low end bikes have 3 chainring drivelines which would seem to be a more complex system.

Brake type

Bike brakes are either v-brake or u-brakes that clamp on the rim to stop the bike or disc brakes. V-Brakes are the traditional bike brake that are operated by a cable. They work by clamping brake pads against the sidewalls of your bike rims. They work well when setup right. They don’t work when the bike rims get wet. If the bike wheel becomes bent and out of true it effects their clamping effort. They have less stopping power then disc brakes.

Disc brakes work by clamping against a rotor attached to the center of your bike wheel. They can be operated by a cable or hydraulics. They have several advantages over v-brakes. They have much higher braking power. You can screech to a stop with 1 finger effort. They work on wet roads. The rotor is far from the wheels and wet pavement. They work with bent or out of true wheels because they are attached to the hub.

Disc brakes are better performing and preferred for any e-bike.

Frame Material

Most bike frames are made of aluminum. Aluminum offers good lightweight construction for a reasonable price.

Carbon fiber is the next most popular choice but it is much much more expensive. Carbon fiber bikes will weigh several pounds less than an aluminum bike. You will pay a few thousand dollars to save those few pounds.

Some bikes are still made with steel frames. Steel frames are a few pounds heavier than aluminum. Steel has good durability and the frames are more flexible than aluminum so it can provide a softer ride.

With an electric bike, you are carrying around several pounds of batteries. Some have 20 to 30 lbs of batteries which weigh as much as some bikes. It’s not worth spending thousands for a carbon frame when you are going to strap pounds of battery weight to it.

Wheel size

Bigger bicycle wheels give a smoother ride. Bigger wheels roll with less resistance and are more efficient. Common wheel sizes for full size bike wheels are 29 inch or 700C, 27.5inch or 650b, and 26inch. 26 inch is no longer common except on cheap mountain bikes or fat bikes with 4 inch wide tires.

Foldable bikes or small portable bikes have smaller wheels. These make the bike light enough to carry. They will not ride as smoothly and they will take more effort to climb hills.

Bike size

Will the bike fit you? The best way to check this is the bike size chart published by the manufacturer. See what height rider they recommend for their bike. You can learn more by reading our guide for how to measure a bike and see what size fits you.

Class 1, 2, and 3 e-bikes

California has developed a system of 3 classifications for electric bikes. Several other states and federal organizations have adopted it as well. The classifications are as follows:

• Class 1 e-bike – pedal assist only with no throttle and a top powered speed of 20mph
• Class 2 e-bike – Bike can be powered by the motor alone with a maximum powered speed of 20mph
• Class 3 e-bike – pedal assist only with no throttle and a top powered speed of 28mph

To learn more about electric bike classifications go here.

Is it worth getting an electric bike?

An electric bicycle may not be for everyone. For those who enjoy riding them, they are absolutely worth the extra cost. An e-bike will always be cheaper to ride and own than a car. You can save a ton of money on your commute using an e-bike. They can allow people with lower body or back injuries who couldn’t otherwise ride a bike to enjoy biking.

What are the disadvantages of electric bikes?

There are a lot of advantages and only a few disadvantages to an electric bike.

• An electric bike will cost more than a regular bike. The battery will need to be replaced after a few years adding more cost.
• Some cities and states only allow certain classes of e-bikes on public roads. You need to check the laws where you live to see what you can and can’t ride there.
• Many mountain bike trails do not allow electric bikes of any kind. More and more are opening up to class 1 pedal assist bikes. They will probably be legal on all trails within the next few years due to their benefits to older and injured bikers.

How long does an e bike last?

An e-bike can last as long as a conventional bike. The battery will lose capacity and wear out from charging and discharging. The average e-bike battery lasts between 10,000 and 30,000 miles. Depending on how much you ride that could be a long time. If you keep the bike indoors and out of the weather it will last much longer.

Electric Bike FAQ

Q: How fast do electric bikes go?

Class 1 and 2 e-bikes are limited to 20mph. Class 3 e-bikes are limited to 28mph. You can pedal an electric bike faster but the motor will not power you above those speeds. For electric bikes not following the classification standards you can get higher speeds. Above 28mph it becomes a moped in most states requiring you to have a driver’s license and registration.

Q: Do I need to wear a helmet when riding an ebike?

Helmet laws vary from place to place. I always wear a helmet when biking. I have had a few scary moments including going head first into a tree while mountain biking. I recommend one whether the law requires one or not.

Q: How often should I charge my ebike?

To ensure a long life for your e-bike battery you should never leave it completely discharged. When you are done riding your e-bike you should let the battery cool down a little if it’s hot and then recharge it. You should always keep your e-bike battery charged at 50% or a little above for storage.

Lithium batteries are sensitive and require some care. The 2 worse things you can do to them are overcharging and completely discharging them. Overcharging can lead to fires. Most lithium battery chargers have circuits to prevent overcharging. You should always read the owner’s manual for your battery and charger for any safety precautions.

Discharging a lithium battery completely can damage the cells. If this happens they may not hold a charge and can’t be fixed. All batteries have a slow self discharge over time. It’s very slow with lithium batteries but still occurs. As long as you don’t store the battery completely discharged for a long time this problem won’t occur. Most e-bike controllers have circuits to monitor battery voltage. They will cut off the e-bike before damage can occur.

Q: What’s the best electric bike for the money?

The ANCHEER 250/500 watt bike and 350 watt bike represent really good values. They are based on a $500 value mountain bike with several hundred dollars worth of motor, battery, and controller. They are decent, reliable bikes for a good cost. The Hyper Folding Bike from Walmart is also a good deal for those who want an inexpensive go anywhere bike.

See our article “Why are e-bikes so expensive” to learn more about the costs of an e-bike.

Q: What is the best way to store an ebike

Ebikes take up much more space than electric scooters. Storing them can be a challenge. A good wall rack is an excellent solution. It keeps your bike off the ground and holds it so it won’t fall over on anything. We like the Koova Bike rack a lot.

Koova Bike Rack

See our review of the Koova Bike Rack to learn more.

Q: Can you ride electric bikes in the rain?

From a biking perspective, you can ride an e-bike in the rain just like any other bike. Some electric bikes have water resistant controllers, motors, and batteries. Some do not and will be damaged. You should consult your e-bikes manual to learn whether it can be used in the rain or not.

Q: How fast is a 500w ebike?

Most e-bikes will be limited to a top speed under power of 20mph or 28mph to comply with class 1, 2, and 3 e-bike laws. 500 watts is enough power to propel you faster than 28mph on flat land, but the controller will limit it to 28mph.

Q: How fast is a 1000w ebike?

Most e-bikes will be limited to a top speed under power of 20mph or 28mph to comply with class 1, 2, and 3 e-bike laws. 1000 watts is enough power to propel you faster than 28mph on flat land, but the controller will limit it to 28mph. If the electric bike is classified as a moped with registration and a drivers license it may be able to go faster.

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