These are some of the cheapest but good quality futons under $200 available on the market.

Mali Flex Multi-Position Lounger: From Kelp, Stone and Tang, this futon features an array of positions including sofa, lounger and sleeper - thanks to the six positional wings of the futon frame. The cushions and pillows are custom made and available in a variety of coordinating fabric hues exclusively for the frame. The set costs around $190 only.

3-in-1 Wood Futon, Unfinished: This futon is constructed with Brazilian wood. It comes unfinished, so it can be stained according to preference, and it converts into a chaise lounge, couch or full size bed. Users also have a choice of two futon mattresses. The 3-in-1 futon costs around $80.

Round Arm Full Metal Futon: From Elite Products, this is a Sofa to Bed futon with sturdy steel frame. It features scratch resistant powder coat finish, and two position fron operational hinge mechanism. The product costs around $125. Elite also has futon frames crafted of woods such as Pine and solid oak.

Simmons Savannah Futon: This futon features a 4 position Beautyflex frame steel frame with hardwood medium oak finish mission arms. This futon costs around $180, and the futon mattress and cover have to be bought separately.

Mali Flex Futon Combo - Plank: This futon has six positional wings that can form the Mali into a sofa, lounger or sleeper. The frame is made of metal designed in Euro style. The futon is available for about $190 and includes custom cushions and pillows.

Euro Futon, Brownstone and Driftwood: The Euro futon adjusts to three positions - bed, lounger and sofa. The metal frame is constructed with 2" angled legs. It includes cushions made of flame retardant material, and costs around $150.

Fargo Futon: From Hillsdale House Furniture, the Fargo features mission style solid oak arms with metal rails and suspension futon, with medium oak finish on the arms and a matte black finish on the deck. It also includes heavy duty mechanism for easy opening and closing, and costs around $165.

Futon Set from Montgomery Ward: This futon has a steel alloy frame with black powdercoat finish, with a mattress that has a foam core wrapped in a black cotton duck cover, and a cotton/polyester futon cover. The set is available for about $190.

Target Plush Premium Chair Futon Mattress- Twin: This is a chair size futon that comes with a machine tufted mattress made with Polyester natural fiber wrap and antique white duck cover. It costs around $200.

Trifecta Futon: The futon can be positioned into Loveseat, Lounger and Bed, and the frame comes in Southern Yellow Pine, Unfinished. The set includes a twin size premium futon mattress, and costs around $180.

Upholstered Futon: Includes a full-size futon mattress, upholstered frame and two 17in square accent pillows. The futon features solid pine frame, metal seat and back, and costs around $190.

Astro Futon: The frame is assembled out of heavy gauge steel, with an electrostatically coated finish, and comes fitted with Multiple European Beechwood Flex Slats. The frame costs around $200, and the mattress and cover are optional.