PS5 and Xbox Series X consoles are cheaper than you think

Compared to historical console launches, the PS5 and Xbox Series X are cheaper than most, once you account for inflation

PS5 and Xbox Series X
(Image credit: Future)

If you've been trying to get in on the next-gen console action, you'll know from experience that getting hold of an Xbox Series X or PS5 is nigh on impossible right now, thanks to a combination of scalpers and productions issues, but the price tag should be at the bottom of your list of concerns.

Sony and Microsoft's newest consoles offer the most advanced hardware to date, but while their $500 price tag (which drops by a hundred dollars or so if you opt for the PS5 Digital Edition or Xbox Series S) seems like a lot to fork out, it's actually very reasonable; in fact, compared to previous console generations they sit pretty far down the list when it comes to the drain on your wallet.

OnlineCasinos has posted a collection of console prices over the years at launch, and adjusted them for inflation to see what their price tags would be today. The PS5 will cost you $499 / £449 / €499 /AU$749.95, while the Xbox Series X comes in at $499.99 / £449.99 / €499.99 / AU$749. Adjusted for 2020 inflation, they're cheaper than the original PlayStation, PS3, Xbox 360, and Xbox One

Console prices adjusted for inflation

(Image credit: OnlineCasinos)

The PS2, PS4, and OG Xbox aren't that far behind, coming in at around $50 cheaper with their prices adjusted for inflation. Given the technological leap in hardware, gamers are getting an insane amount of value for money this console generation. 

Video game prices have been less in flux, with the standard price sitting at around $50 / $60 on both platforms for over a decade, but this next generation of games has seen prices creep up over $70 depending on the publisher, and the inconsistency in pricing, coupled with confusing cross-gen formats that may or may not include next-gen versions for free aren't helping to add any clarity to the situation. 

The long and short of it is that if you're trying to justify spending $500 on a brand new console, you've got the all clear. The purchase will last you for years, you'll get hours of fun out of it, and relatively speaking, you've probably spent more for a less impressive piece of tech, judging by the adjusted price tags. So take the free pass and keep tabs on our PS5 stock tracker and Xbox Series X|S stock tracker for updates on when you can get hold of the consoles.

Shabana Arif

Shabana worked at as News Editor covering tech and gaming, and has been writing about video games for almost a decade (and playing them since forever). She's had bylines at major gaming sites during her freelance career before settling down here at T3, and has podcasts, streaming, and video content under her belt to boot. Outside of work, she also plays video games and should really think about expanding her hobbies. If you have any tech or gaming tips, shoot over an email or DM her on social media.