Microalga–bacteria consortia are increasingly recognized for their effectiveness in wastewater treatment, leveraging the metabolic synergy between microalgae and bacteria to enhance nutrient removal and overall treatment efficiency. These systems offer a sustainable approach to addressing pollutants such as nitrogen and phosphorus. However, their potential in removing specific contaminants like steroid hormones is less explored. In this study, a natural microbial consortium, A21, has been characterized and isolated from primary sewage treatment in Madrid and its potential for bioremediation of steroid hormone effluents has been evaluated. The A21 consortium includes Alphaproteobacteria genera Sphingopyxis and Pseudorhizobium and the Cyanobacterium Cyanobium. Sphingopyxis (31.78%) is known for biodegradation, while Pseudorhizobium (15.68%) exhibits detoxification abilities. Cyanobium (14.2%) may contribute to nutrient uptake and oxygen production. The effects of pH, nitrogen sources, and Sodium chloride concentrations on growth were evaluated. The optimal growth conditions were determined to be a pH range of 7 to 9, a salt concentration below 0.1 M, and the presence of a nitrogen source. The consortium also demonstrated effective growth across various types of wastewaters (primary, secondary, and tertiary treatment effluents). Additionally, A21 exhibited the ability to grow in the presence of steroids and transform them into other compounds, such as converting androstenedione (AD) into androsta-1,4-diene-3,17-dione (ADD) and β-estradiol into estrone.