A framework for assessing urban greenery’s effects and valuing its ecosystem services identifies biophysical structure components of urban green space, the associated function, an indicator, effectivity factor, and ecosystem services associated. The framework compares the perceived value of the ecosystem service to other potential services (i.e., public transport, housing, or culture, compared to biodiversity, stormwater flood risk, and perceived well being). The article includes a case study in which the framework was applied to urban areas in Gothenburg, Sweden.