Vision agent memory has shown remarkable effectiveness in streaming video understanding. However, storing such memory for videos incurs substantial memory overhead, leading to high costs in both storage and computation. To address this issue, we propose StreamMeCo, an efficient Stream Agent Memory Compression framework. Specifically, based on the connectivity of the memory graph, StreamMeCo introduces edge-free minmax sampling for the isolated nodes and an edge-aware weight pruning for connected nodes, evicting the redundant memory nodes while maintaining the accuracy. In addition, we introduce a time-decay memory retrieval mechanism to further eliminate the performance degradation caused by memory compression. Extensive experiments on three challenging benchmark datasets (M3-Bench-robot, M3-Bench-web and Video-MME-Long) demonstrate that under 70% memory graph compression, StreamMeCo achieves a 1.87* speedup in memory retrieval while delivering an average accuracy improvement of 1.0%. Our code is available at https://github.com/Celina-love-sweet/StreamMeCo.