The album received a positive reception from critics who considered it an improvement over his debut album Southside. Street Love debuted on the US Billboard 200 at number two, selling 144,672 copies sold in its first week. As of April 2007 the album was certified Gold by the RIAA with an excess of 500,000 copies sold.
Street Love received a generally positive reception from music critics who found it an improvement over his debut album. David Jeffries of AllMusic praised the album for shedding Lloyd's thug image and replacing it with slow jams that come across as more convincing and sexy, saying that "Lloyd is more comfortable, committed, and believable on Street Love, and if taken in small doses, you can add satisfying to the list." Mark Edward Nero of About.com also complimented the album for providing songs that will catch the public's attention but also said that its lacking in artistic quality, substance and vocal delivery, concluding with "That said, the album isn't bad. Lloyd plays his role well and manages to come across as sensitive yet strong, and not as a sappy sucker." Andy Greenwald of Entertainment Weekly said that the album had potential but concluded with, "Unfortunately, in between, Lloyd's talents are adrift on an ocean of samey slow jams." Gentry Boeckel of PopMatters criticized the album for having an overabundance of slow-paced ballads, saying that "Lloyd seems more interested in making staid, tried-and-true, music-that-will-get-me-laid music, rather than taking the style to new enclaves."