Floods, exacerbated by escalating urbanization, pose significant threats to life and property globally. Over the past decade, the Esenyurt district in Istanbul has witnessed a series of floods, highlighting existing flood risks. Rapid population growth in this area and dense urbanization caused by intensive construction increase flood risks. Given these factors, the study focuses on examining the historical impact of urbanization on flood risks, considering spatial and temporal changes. Landsat-8 satellite data, specifically examining NDVI, NDBI, and BU, was employed to detect building imprints and reveal their historical backgrounds for temporal risk calculations. The analysis showed a sudden increase in urbanization rates in 2016, 2017, and 2021. In the flood risk calculations, 2014 data for a return period of 100 years were used and flood inundation depth, economic damages, affected population and depth-damage function were taken into consideration. The results indicate that from 2014 to 2022, increasing urbanization led to a 32.9% increase in the population affected by floods, a 22.3% rise in potential economic damage, and a 13.6% increase in total flood risk. The relationship between flood risks, contemporary urbanization, and its economic dimensions has been evaluated to reduce risks and achieve sustainable cities.