A rapid dynamic security assessment (DSA) is crucial for online preventive and restoration decision-making. The deep learning-based DSA models have high efficiency and accuracy. However, the complex model structure and high training cost make them hard to update quickly. This paper proposes a dynamic security partition assessment method, aiming to develop accurate and incrementally updated DSA models with simple structures. Firstly, the power grid is self-adaptively partitioned into several local regions based on the mean shift algorithm. The input of the mean shift algorithm is a symmetric electrical distance matrix, and the distance metric is the Chebyshev distance. Secondly, high-level features of operating conditions are extracted based on the stacked denoising autoencoder. The symmetric electrical distance matrix is modified to represent fault locations in local regions. Finally, DSA models are constructed for fault locations in each region based on the radial basis function neural network (RBFNN) and Chebyshev distance. An online incremental updating strategy is designed to enhance the model adaptability. With the simulation software PSS/E 33.4.0, the proposed dynamic security partition assessment method is verified in a simplified provincial system and a large-scale practical system in China. Test results demonstrate that the Chebyshev distance can improve the partition quality of the mean shift algorithm by approximately 50%. The RBFNN-based partition assessment model achieves an accuracy of 98.96%, which is higher than the unified assessment with complex models. The proposed incremental updating strategy achieves an accuracy of over 98% and shortens the updating time to 30 s, which can meet the efficiency of online application.