Here then are my recommended best acoustic guitars for under $500 in no particular order.
Washburn D10S Acoustic Guitar
The worlds best selling acoustic guitar and the one that acoustic guitar magazine named the best guitar available for under $500. Although I don't totally agree with that statement it certainly is a fantastic guitar for the money. It is easy to play and sounds fantastic, in fact it sounds better than many acoustic guitars that cost twice the price.
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Seagull S6
This is one of the best acoustic guitars in the world in fact if you didn't know it's price (under $400 ) you would swear it would be a $800 plus guitar. The Seagul S6 sounds almost as good as many top end Martins, Taylors and Gibsons but for a fraction of the price. It may be a little more expensive than the Washburn d10s but for that you will have a guitar that will last you a lifetime.
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Epiphone Hummingbird Acoustic Guitar
It's amazing how close this comes to the Gibson hummingbird when you consider the difference in price but Epiphone have done a fantastic job. It may not be a Gibson but for many it is as close as they will come to owning a hummingbird because of the price. This guitar is fantastic for beginners and even experienced players will find some joy.
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Fender DG100 Dreadnought Acoustic Guitar
The beautiful DG100 has a fantastic feel to it and is well suited to almost any style of play. The strings that come with the guitar are a little harsh but this is easily fixed with new strings. If your looking for great acoustic guitar from one of the biggest names around then this is definitely worth a look for under $300.
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Takamine G320 Dreadnought Acoustic Guitar
If your looking for a bargain then this is it. I've played $800 acoustic guitars that don't have the same quality of sound as the G320 Dreadnought, and yet this cost under $150. This is another example of the quality that Takamine guitars provide. It may not last you a lifetime but for value for money this is amazing.
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Yamaha FG730S Solid Top Acoustic Guitar
Whether a complete novice or a veteran player the FG730S offers an amazing playing experience. The feel of it is that of a much more expensive guitar and the sound is also great. It may not be as easy to play as some of the others which is something a complete novice may want to consider but it is a wonderful instrument for the price.
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Alvarez RD8 Regent Series Dreadnought Acoustic Guitar
I'd never played an Alvarez guitar before trying the RD8 and to be honest I wasn't expecting much but this is a great guitar for the price ( under $200 ). It has a clear and full sound that not many $200 guitars can match and is a great purchase for any beginner or for someone looking for a solid second guitar.
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Ibanez AEL20E Acoustic-Electric Guitar with Onboard Tuner
This is the best looking guitar you will find for under $500 but it deserves to be in this list of the best acoustic guitars for under $500 for more reasons than that. The Ibanez sounds absolutely beautiful whether plugged in or acoustic and is a match for many higher priced guitars available. If you can afford it this has to be considered.
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Takamine G Series 340C Acoustic-Electric Guitar
In my opinion I have saved the best until last as I believe the 340C to be the best of the best acoustic guitars for under $500, in fact in terms of sound I doubt you will find a guitar for less than a $1000 that sounds better. Takamine have produced, in my opinion the best value for money guitar in the world.
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And there you have my best acoustic guitars for under $500. If you have the complete $500 I'd go with the Takamine 340C but whichever of these guitars you opt for I guarantee you won't be disappointed.