Exposure to heavy metals (HMs) in indoor dusts is a serious public concern that is linked to a myriad of deleterious health outcomes. The objectives of this study are to estimate the contamination levels of HMs in indoor dusts of different residential areas in Ilorin, Nigeria; identify HMs sources in different residential areas; and evaluate human health risks of HMs in selected residential areas. Indoor dust sampling was conducted in ten randomly selected from low, medium and high population density residential areas of Ilorin, Nigeria. Ten HMs concentration levels, their health risk implication and the associated potential ecological risks were evaluated. The mean concentration levels measured for Fe, Pb, Zn, As, Co, Cr, Cu, Cd, Mn and Ni were 38.99, 5.74, 3.99, 0.08, 2.82, 2.13, 0.47, 0.60, 6.45 and 1.09mg/kg, respectively. Positive Matrix Factorization (PMF) model was applied to ascertain sources of HMs in sampled indoor dust. Percentage contribution from oil-based cooking (29.82%) and transportation (29.77%) represented the highest source to HM concentrations among the six factors identified. The results of the various pollution indices employed showed that Pb, Zn, As, Co, Cr, Cu, Mn and Ni contributed moderately to HMs concentration levels in the sampled dusts. Cd had highest potential ecological risk factor of between 160 and 320. The average values of Enrichment Factors (EFs) obtained aside from Fe used as the reference metal, ranged between 8.46 (As) and 2521.61(Cd). Health risk assessment results revealed that children are the most susceptible to the risks associated with HMs bound indoor dust than the adults. The percentage risk contributions of Hazard Quotient via ingestion route (HQing) in Hazard Index (HI) for non-cancer risk of indoor HMs were 93.17% and 69.87% in children and adults, respectively. Likewise, the percentage cancer risks contribution through ingestion pathway (CRing) were higher than cancer risks through inhalation and dermal pathways (CRinh and CRdermal), accounting for 99.84% and 97.04% of lifetime cancer risk in children and adults, respectively. The contamination level of Cd recorded is of great concern and signifies very strong contribution from anthropogenic sources. This study has further revealed the levels of HMs in typical African residential settings that could be used by relevant stakeholders and policy makers in developing lasting control measures. The online version contains supplementary material available at 10.1007/s40201-021-00778-8.