In view of the problem that the existing urban waterlogging simulation methods are difficult to balance efficiency and accuracy, which affects real-time prediction and emergency management, to improve the risk assessment and management ability for waterlogging in the main urban area of Yueyang City, a hydrological-hydrodynamic coupling model based on SWMM and the SIMWE model was constructed. The model was verified by using measured data, and the drainage node overflow and risk distribution characteristics of waterlogging in the main urban area of Yueyang City were further analyzed. The results show that the inundation conditions simulated by the model are highly consistent with the measured data, and the simulation times of the 3-h and 24-h rainstorms are 5.5 min and 32.5 min, respectively, indicating superior computational efficiency of the model. The overflow volume and inundation area of urban flooding increase logarithmically and nonlinearly with the increase of the rainfall return period. The overflow volume of short-duration heavy rainfall accounts for a larger proportion of the total precipitation, and the onset of overflow is advanced with the increase of the rainfall return period. The model identified 16 critical waterlogging-prone areas, and the spatial pattern of high-risk urban flooding areas is relatively fixed.