Water resources insufficiency is one of the bottlenecks that restrict sustainable socio-economic development in Ningbo city. Good handling of the relationship between water resources utilization and development is of great significance for the realization of continuous economic growth and sustainable socio-economic development. This study systematically evaluated water resources utilization with respect to water supply and demand. Water resources development and utilization prospects and regional differences were then assessed at multiple scales, at both county/district and city level in Ningbo city, using the water resources carrying index. Results showed that: (1) The volume of water resources supply and consumption gradually rose each year, with surface water as the primary source and groundwater as the secondary source. Regarding consumption, industrial water consumption was the primary element, and domestic and environmental water consumption were the secondary elements. Even though the use of water resources for irrigation, secondary and, tertiary industry were becoming more efficient, comprehensive per capita water consumption was gradually increasing. (2) The water resources carrying index for Ningbo city fluctuated in the range of 4.51–23.35 during 2001–2015; the degree of water resource utilization and potential exploitation evaluation of water resources were not stable. The average value of the water resources carrying index was 11.68; the degree of utilization of water resources was very high, and the introduction of water from external water bodies was necessary, to the extent external source were available. (3) Future water resources exploitation will be quite difficult in Ningbo city, especially in Cixi county, Ningbo municipal district and Yuyao county. So the introduction of external water as a supplemental source will be required.