β-type titanium alloys comprising low cost elements such as Fe, Mn, Cr, Sn, Al, O and N and having low Young's modulus are currently being developed. Examples of such alloys include Ti-10Cr-Al, Ti-Mn, Ti-Mn-Fe, Ti-Mn-Al, Ti-Cr-Al, Ti-Sn-Cr, Ti-Cr-Sn-Zr, Ti-(Cr, Mn)-Sn, and Ti-12Cr. Ti-5Fe-3Nb-3Zr belongs to that class of titanium alloys in which rare metals such as Nb, Ta, and Zr have been reduced using Fe. Ti-5Fe-3Nb-3Zr has a Young's modulus of around 76 GPa and has greater strength than that of Ti-6Al-4V ELI for biomedical applications. The characteristics of Ti-5Fe-3Nb-3Zr and other low-cost beta-type titanium alloys with low Young's moduli are discussed from the viewpoint of biomedical applications.