In recent years, rainfall-induced waterlogging has become a common hazard in the highly urbanized coastal city of Chattogram, Bangladesh, resulting in a high magnitude of property damage and economic loss. Therefore, the primary objective of this research was to prepare a waterlogging inventory map and understand the spatial variations of the risk by means of hazard intensity, exposure, and vulnerability of waterlogging. In this research, the inventory map and factors influencing waterlogging hazards were determined from a participatory survey, and other spatial data, including land elevation, population, and structural data, were collected from secondary sources. The analytical hierarchy process was applied to measure the hazard intensity, and the exposure and vulnerability were estimated by overlaying the spatial data onto the hazard intensity map. A total of 58 locations were identified as waterlogging affected, which covered ~8.42% of the city area. We showed that ~3.03% of the city area was greatly vulnerable to waterlogging in terms of their social, infrastructure, critical facilities, economic, and environmental vulnerabilities. The obtained waterlogging risk index map suggested that ~2.71% of the study area was at very high risk, followed by moderate (~0.15%), low (~3.89%), and very low (~1.67%). The risk analysis presented in this study was a simple method that can be applied to assess the relative risk of waterlogging in different regions, and the results were applicable to the prevention and mitigation of waterlogging for Chattogram City.