What is the cheapest new gaming console you can buy in 2026?

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Gaming has become an even more expensive hobby in the past couple of years due to import tariffs and surging memory prices. For example, the PlayStation 5 Pro debuted in 2024 for $700. Today, the same system has a sticker price of $900, and resellers like GameStop are charging upwards of $1,400. If you want the best way of playing Grand Theft Auto VI at launch, you might need to take out a loan.

But let's say you just want to play good games and don't necessarily need the newest system or latest titles. Relatively affordable new consoles are available, but you may need to make compromises on graphical fidelity or form factor to keep prices within the realm of sanity. Also, as we'll discuss, an initially cheap system can end up being more expensive in the long run if you never get a break on game prices.

For the purposes of this discussion, we're going to skip over niche consoles like the Playdate or Analogue 3D, as well as the multitude of generic Android devices that exist. Some of these might be exactly what you're after, but they're not what most people think of when they want a mainstream gaming console.

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You can immediately ignore anything from Sony or Microsoft. Following price hikes, the discless PlayStation 5 Digital Edition is $600, and even the scaled-down all-digital Xbox Series S is $500. You might be interested in one of the two for their game libraries, but most people wouldn't consider $500 cheap, especially when there's no way of buying used games for either console. 

Without disc drives, you're limited to whatever discounts appear on Sony and Microsoft's online stores. Major releases are usually $60 or $70, with GTA VI coming in hot at $80. Game Pass or PlayStation Plus can provide savings if you play a lot of games, but the additional $10 to $23/month might not be feasible if you're looking to minimize spending. 

A slightly better deal is the Nintendo Switch 2. That also starts at $500, but you can at least buy some used Switch games on physical cartridges, rather than getting everything digitally via the Nintendo eShop. If you're willing to spend a little bit more, you can also get the console bundled with Mario Kart World or Nintendo Switch Sports Resort, giving you something to play from the jump.

For the lowest initial cost, the winner is another Nintendo product: the Switch Lite. It's just $230, putting in the same pricing bracket as a lot of those generic Android devices. Keep in mind that the Switch Lite is a variation of the original 2017 Switch, meaning it can't play Switch 2 exclusives. It also lacks the ability to dock with your TV. But if you're okay with this, there's an incredible game catalog available. Apart from major first-party titles like Super Mario Odyssey and Zelda: Tears of the Kingdom, there's a wealth of third-party and indie standouts like Hades, Portal and Undertale.

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Compared to the above options, a handheld PC can be shockingly expensive. Valve's Steam Deck OLED starts at $789, and a higher-powered product like the ASUS ROG Xbox Ally X is a whopping $1,000. There are cheaper options, but you're probably not going to find anything worth buying below the $600 mark unless it's used. None of these devices have access to games on card or disc, either, unless you count retro ROMs you copy onto an SD card.

The way they beat conventional consoles is in offering affordable game downloads. While Sony and Microsoft are decent at offering discounts on older releases, the deals are amped up significantly on PC storefronts like GOG and Steam. Those have access to decades' worth of content, frequently reduced to just a few dollars, and new releases tend to get discounts within just a few months. Conversely, Nintendo will barely budge (if at all) on games that are a decade old. If you want to build a large collection of major releases, the Switch Lite might not be that much cheaper in the end.

Don't overlook free games, either. While you have to work around free-to-play monetization, modern systems offer tons of high-quality free games you could play for hundreds of hours, including Overwatch, Rocket League, The Finals, Fall Guys, Genshin Impact and many more.

Moreover, handheld PCs are PCs. Though they're obviously gaming-focused devices, they're capable of running productivity apps when you switch out of their game launchers. The same can't be said of a Switch or PS5.