Floods are the biggest hydrometeorological disaster, affecting millions annually. Thus, flood hazard assessment is crucial and plays a pivotal role in rational water management. This study was undertaken to evaluate flood hazards through the application of MCDM methods and a bivariate statistical model integrated with GIS. The methodologies applied were AHP, fuzzy AHP, and the frequency ratio. Eight flood-related criteria were considered—elevation, flow accumulation, geology, slope, land use/land cover (LULC), distance from the drainage network, drainage density, and rainfall index—for the construction of a Flood Hazard Map for each methodology, with the aim to delineate the regions within the study area most prone to flooding. The results demonstrated that around 34% of the Chalkidiki regional unit presents a high and very high hazard to the occurrence of floods. The comparison of the maps generated using DSC demonstrated that all models are capable of delineating high and very high hazard areas with overlap values varying from 0.8 to 0.98. The validation results indicated that the models exhibit sufficient performance in flood hazard mapping with AUC-ROC scores of 66.6%, 65.7%, and 76.5% for the AHP, FAHP, and FR models, respectively.