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The high levels of environmental pollution observed in urban freshwater ecosystems result in losses of ecosystem goods and services, reducing the well-being of human populations in densely populated tropical cities. The Belo Horizonte Metropolitan Region (BHMR) resembles other megacities in the Global South, with inadequate collection and treatment of domestic sewage being an important source of environmental degradation. However, urban stream rehabilitation can improve ecosystem quality and the physical and mental well-being of local citizens. Therefore, the objective of this study was to assess whether the rehabilitation of three BHMR streams and the increased provision of ecosystem goods and services for local residents were associated with environmental gentrification and public health issues. To achieve this objective, we asked three questions. (i) Was there socioeconomic improvement in the households located near the rehabilitated streams? (ii) Did property values appreciate near the rehabilitated streams? (iii) Was the relative incidence of diseases decreased in the residents living near the rehabilitated streams? We tested three hypotheses. (H1) The socioeconomic profile of the households in the areas neighboring the rehabilitated streams improved. (H2) The property values of residences in the areas neighboring the rehabilitated streams increased. (H3) The incidence of waterborne and other types of diseases in the areas neighboring the rehabilitated streams decreased. To answer the first question and hypothesis, we compared 2000 to 2010 census tracts in the areas neighboring the rehabilitated streams with others …