Provided herein are titanium alloys that can achieve a combination of high strength and high toughness or elongation, and a method to produce the alloys. By tolerating iron, oxygen, and other incidental elements and impurities, the alloys enable the use of lower quality scrap as raw materials. The alloys are castable and can form -phase laths in a basketweave morphology by a commercially feasible heat treatment that does not require hot-working or rapid cooling rates. The alloys comprise, by weight, about 3.0% to about 6.0% aluminum, 0% to about 1.5% tin, about 2.0% to about 4.0% vanadium, about 0.5% to about 4.5% molybdenum, about 1.0% to about 2.5% chromium, about 0.20% to about 0.55% iron, 0% to about 0.35% oxygen, 0% to about 0.007% boron, and 0% to about 0.60% other incidental elements and impurities, the balance of weight percent comprising titanium.