diff --git a/esphome/const.py b/esphome/const.py
index 2b5724c9f3..e573a64e1d 100644
--- a/esphome/const.py
+++ b/esphome/const.py
@@ -1,6 +1,6 @@
 """Constants used by esphome."""
 
-__version__ = "2024.3.0b4"
+__version__ = "2024.3.0b5"
 
 ALLOWED_NAME_CHARS = "abcdefghijklmnopqrstuvwxyz0123456789-_"
 VALID_SUBSTITUTIONS_CHARACTERS = (