Groundwater is a major source of fresh water in Tianjin Municipality, China. The average rate of groundwater extraction in this area for the last 20 years fluctuates between 0.6 and 0.8 billion cubic meters per year. As a result, significant subsidence has been observed in Tianjin. In this study, C-band Envisat (Environmental Satellite) ASAR (Advanced Synthetic Aperture Radar) images and L-band ALOS (Advanced Land Observing Satellite) PALSAR (Phased Array type L-band Synthetic Aperture Radar) data were employed to recover the Earth’s surface evolution during the period between 2007 and 2009 using InSAR time series techniques. Similar subsidence patterns can be observed in the overlapping area of the ASAR and PALSAR mean velocity maps with a maximum radar line of sight rate of ~170 mm·year−1. The west subsidence is modeled for ground water volume change using Mogi source array. Geological control by major faults on the east subsidence is analyzed. Storage coefficient of the east subsidence is estimated by InSAR displacements and temporal pattern of water level changes. InSAR has proven a useful tool for subsidence monitoring and displacement interpretation associated with underground water usage.