The answer is that it depends. Weapon checks are done by local marshal's and they have final say. A lot of vendors making latex weapons don't put enough foam to pass Alliance's weapon safety rules. Some of them use foam that is to hard for blades as well. Very few latex weapons are safe to thrust with.
Personally, I'd recommend starting with a tape & foam weapon. They are usually less expensive, and when built well, often lighter and easier to fight with than latex weapons.
If you were looking to buy a weapon, B3is.com (a local larp shop not that far from you) makes nice light and robust weapons in the tape&foam style (with solid covers rather than tape). "Doomforge Designs" is also in your general area and makes some gorgeous tape & foam weapons. Epic Armory is a maker of latex weapons that people often say will pass inspection -- though its not guaranteed. Epic Armory is located in Europe and resold by several US based companies. It might also be worth asking your local chapter if there is a local foam-smith who can make you something or teach you how to make your own.
A high end tape & foam weapon is about $10-20 in materials and a couple hours of work, depending on how fancy you make it.