This study investigates the concentrations of heavy metals in various water sources within Anyigba, Dekina LGA, Kogi State, Nigeria, to assess potential health risks and environmental impacts. A total of 45 water samples were collected from three different sources: river water, boreholes, and rainwater, with 15 samples taken from each source. The heavy metals analyzed include lead (Pb), cadmium (Cd), chromium (Cr), zinc (Zn), and iron (Fe). The samples were subjected to Atomic Absorption Spectrophotometry (AAS) to determine the concentrations of these metals. Results indicate that the mean concentrations of Pb, Cd, and Cr in river water samples were 0.12 mg/L, 0.08 mg/L, and 0.15 mg/L, respectively, exceeding both the World Health Organization (WHO) and Nigerian standards for drinking water. Borehole water samples also showed elevated levels of Pb (0.09 mg/L) and Cd (0.06 mg/L), whereas rainwater samples exhibited lower concentrations, within permissible limits. Statistical analysis, including one-way ANOVA, revealed significant differences in heavy metal concentrations between the different water sources (p < 0.05). The health risk assessment, calculated using the Hazard Quotient (HQ) and Hazard Index (HI) methods, indicates a potential health risk, particularly for vulnerable populations relying on river and borehole water for drinking. These findings underscore the urgent need for local authorities to implement water treatment solutions and regular monitoring to safeguard public health. The study contributes to the understanding of heavy metal pollution in semi-urban areas and highlights the critical need for sustainable water management practices in Anyigba.