Urbanization is accompanied by the loss of ecological land and the deterioration of ecosystem services. The quantification and analysis of the consistency between ecosystem services and economic development will provide information to clarify the regional differences, to optimize spatial layout and to achieve sustainable development. Based on the analyses of remote sensing images and statistical yearbook data in Qingdao Metropolitan Region (QDMR) from 1990 to 2017, the Ecosystem Service Value (ESV) was calculated through monetary quantitative accounting using the revised equivalent factor method. The consistent index of ecosystem services and economy was developed to explore their spatio-temporal coordination characteristics. Furthermore, we proposed how to realize a good balance between ecosystem services and economic development through analysis of various driving factors. Our results showed that the total ESV of QDMR in 2017 reduced by 1.134 billion RMB comparing with that in 1990 due to land use changes. Spatially, the distribution of ESV exhibited a "high-low-high" pattern along the northeast-southwest direction. Moreover, the concentration of ecosystem services and economy in QDMR displayed an inconsistency, the area of which had also been expanded. The cities in which the concentration of ecological services was greater than that of economic activities were mainly located in the northwestern part of QDMR, while the opposite situation primarily occurred across the coastal area in the eastern part of QDMR, where the concentration of economic activities was greater than that of ecological services. As indicated by the analysis of driving factors, the decline of ESV was largely attributed to the distance from the city center. Therefore, it is necessary to utilize the built-up land in a more intensive and efficient way, where the concentration of ecological services was greater than that of economic activities. Meantime, the significant ecological elements should strengthen protection. Finally, the new pathway to conversion of ecological products should be explored more vigorously under the new circumstances for the areas where the concentration of ecological services was greater than that of economic activities in order to ensure coordination between ecological and economic development across different regions.