diff --git a/homeassistant/components/esphome/manifest.json b/homeassistant/components/esphome/manifest.json
index 35b8e91f12b..626bdc34750 100644
--- a/homeassistant/components/esphome/manifest.json
+++ b/homeassistant/components/esphome/manifest.json
@@ -15,7 +15,7 @@
   "iot_class": "local_push",
   "loggers": ["aioesphomeapi", "noiseprotocol", "bleak_esphome"],
   "requirements": [
-    "aioesphomeapi==21.0.2",
+    "aioesphomeapi==21.0.3",
     "esphome-dashboard-api==1.2.3",
     "bleak-esphome==0.4.1"
   ],
diff --git a/requirements_all.txt b/requirements_all.txt
index f2f62948ec6..48719216cdf 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -245,7 +245,7 @@ aioelectricitymaps==0.4.0
 aioemonitor==1.0.5
 
 # homeassistant.components.esphome
-aioesphomeapi==21.0.2
+aioesphomeapi==21.0.3
 
 # homeassistant.components.flo
 aioflo==2021.11.0
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index 75d7d891403..23394e73bff 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -224,7 +224,7 @@ aioelectricitymaps==0.4.0
 aioemonitor==1.0.5
 
 # homeassistant.components.esphome
-aioesphomeapi==21.0.2
+aioesphomeapi==21.0.3
 
 # homeassistant.components.flo
 aioflo==2021.11.0