Abstract: Background and Objective: Groundwater constitutes an important source of water for drinking but mycological contamination through anthropogenic activities and infiltration of run-off into the groundwater makes the water unsafe for drinking and other purposes. This research was aimed at investigating the physicochemical and mycological qualities of groundwater in the Rumuosi community, Rivers State. Materials and Methods: A total of 30 water samples collected from 10 different wells and analyzed using standard microbiological methods. Generally, there were differences (p<0.05) in the physicochemical properties tested across the various well sampled except pH. Results: All physicochemical parameters were within the FEPA limit, except elevated iron level (0.70±0.01) recorded for one well. There was also difference (p<0.05) in the total heterotrophic fungal count ranging from 1.0±0.00×104 SFU mL–1 to 3.35±0.21×104 SFU mL–1 in WW9 and WW1 respectively. A total of 16 fungal isolates belonging to 6 genera were identified and they include Acremonium spp., Aspergillus spp., Candida spp., Fusarium spp., Penicillium and Phialosphora spp. Candida spp. had the highest (43.75%) occurrence while Fusarium spp., Acremonium spp. and Phialosphora spp. had the least (6.25% each). Conclusion: The presence of these potential pathogenic fungi in groundwater poses a serious public health risk. Monitoring and treatment of groundwater before consumption and use for other relevant purposes is advocated.