Firefighters have been out at Park Road since 11.30pm last night (Wednesday) to help prevent houses from flooding.
Two fire engines are in the area with crews working round the clock to pump out rainwater.
Council workers have also been clearing drains of rubbish and putting up sandbags.
Rosyth councillor Pat Callaghan said, "Park Road is an absolute disaster. There must be about 10 inches of water there, easily.
"The sandbags have been put in place but houses are getting breached again.
"The field opposite the school (Park Road Primary) is totally flooded. It's completely awash and surrounded by water.
"The council boys were there clearing drains last night and they're out there again this morning."
Mr Callaghan blamed the flooding on insufficient drainage, which he said is also causing rising waters in Bevan Place.
He continued, "It's a big, big problem. Rosyth is a flood plain and we need to put a capful of money into it to sort it out.
"I've been asking for additional drainage solutions for years and have crucified the council to do something about it.
"The council's flooding report said it wasn't a problem but it's absolute tosh because this happens every time it rains.
"People are working out there cold and freezing and wet and we're just letting them down."
Fife Council's flooding manager Lynne Davidson said, "A number of roads have been closed across Fife and in Rosyth a burn has overflowed, flooding the park at Park Road.
"The area is extremely flat and there is nowhere for water to run off, so it is a place we send teams to check when we're expecting heavy rainfall.
"These teams were out on Monday and Tuesday clearing grills along the burn so that as much water as possible could flow away.
"Fife Fire and Rescue have been in attendance since the early hours of this morning, pumping water away and sandbags have been put round Park Road Primary School and a few homes next to the school. Water has had to be pumped away from these homes.
"As far as we aware no other homes and property have been affected."
She added, "Some residents are taking the precaution of using sandbags around their homes. We have some sandbags available for the public."
Frank Warrington, council team leader for roads services in South West Fife, said Park Road was the only significant area where there had been problems.
He added, "We haven't had that much flooding and what we're doing is clearance of grids and water courses as a preventative rather than reactive measure.
"Our routine maintenance guys are making sure that water courses don't get choked as water brings debris along.
"Since the rain started we've not had any road closures at all - Park Road is covered but it's still passable."
Hill Street in Inverkeithing has also been closed following the collapse of a seven-foot wall, believed to have been caused by the rain.
The wall is said to have collapsed around 5.30am today (Thursday) and traffic has been diverted.
A spokeswoman for Stagecoach in Fife said. "Our routes are currently diverting through Inverkeithing via B981/Church Street as required, without significant delays.
"We are currently doing everything we can to provide as normal a service as possible on local route 83 by operating as far as Dunfermline Wynd. However this route is suffering from delays."
Fife Council advised those whose properties are threatened by flooding to call 08451 55 00 11 (08451 55 00 99 after 5pm) or log on to www.fifedirect.org.uk/flooding for more advice and information.
Are you experiencing flooding problems? Post a comment below or get in touch with our newsdesk on 728201.