Titanium is quite expensive. I don't know if it makes sense to compare it to mild steel and not compare it to fancier steel selections which are still much less expensive than titanium and also much easier to work.

AR500 has a HRC of 47, modulus of 220 GPa, and tensile strength of 1740 MPa. Ti-6Al-4V is 37, 113.8 GPa, and 880 MPa respectively. The AR500 costs less than half as much as the Ti, and is much easier to work (though obviously working will degrade the properties).

The titanium is super really light, however... so the choice of material will depend on how relatively important weight is vs size and how simple your geometry is such that the added difficulty in working with Ti doesn't add problems.

Obviously there are also other grades of Ti too, but I think the comparison generally holds: If you don't care about weight/mass there is a steel selection which will be stronger, cheaper, and easier to form.

If you do care a lot about weight, an aluminum alloy often comes out the winner unless you just don't care much about costs or have fatigue concerns.