diff --git a/CODEOWNERS b/CODEOWNERS
index e8f264b633..1ff9661add 100644
--- a/CODEOWNERS
+++ b/CODEOWNERS
@@ -11,6 +11,7 @@ esphome/*.py @esphome/core
 esphome/core/* @esphome/core
 
 # Integrations
+esphome/components/absolute_humidity/* @DAVe3283
 esphome/components/ac_dimmer/* @glmnet
 esphome/components/adc/* @esphome/core
 esphome/components/adc128s102/* @DeerMaximum
diff --git a/esphome/components/absolute_humidity/__init__.py b/esphome/components/absolute_humidity/__init__.py
new file mode 100644
index 0000000000..8f113b48f6
--- /dev/null
+++ b/esphome/components/absolute_humidity/__init__.py
@@ -0,0 +1 @@
+CODEOWNERS = ["@DAVe3283"]
diff --git a/esphome/components/absolute_humidity/absolute_humidity.cpp b/esphome/components/absolute_humidity/absolute_humidity.cpp
new file mode 100644
index 0000000000..13f30c996f
--- /dev/null
+++ b/esphome/components/absolute_humidity/absolute_humidity.cpp
@@ -0,0 +1,182 @@
+#include "esphome/core/log.h"
+#include "absolute_humidity.h"
+
+namespace esphome {
+namespace absolute_humidity {
+
+static const char *const TAG = "absolute_humidity.sensor";
+
+void AbsoluteHumidityComponent::setup() {
+  ESP_LOGCONFIG(TAG, "Setting up absolute humidity '%s'...", this->get_name().c_str());
+
+  ESP_LOGD(TAG, "  Added callback for temperature '%s'", this->temperature_sensor_->get_name().c_str());
+  this->temperature_sensor_->add_on_state_callback([this](float state) { this->temperature_callback_(state); });
+  if (this->temperature_sensor_->has_state()) {
+    this->temperature_callback_(this->temperature_sensor_->get_state());
+  }
+
+  ESP_LOGD(TAG, "  Added callback for relative humidity '%s'", this->humidity_sensor_->get_name().c_str());
+  this->humidity_sensor_->add_on_state_callback([this](float state) { this->humidity_callback_(state); });
+  if (this->humidity_sensor_->has_state()) {
+    this->humidity_callback_(this->humidity_sensor_->get_state());
+  }
+}
+
+void AbsoluteHumidityComponent::dump_config() {
+  LOG_SENSOR("", "Absolute Humidity", this);
+
+  switch (this->equation_) {
+    case BUCK:
+      ESP_LOGCONFIG(TAG, "Saturation Vapor Pressure Equation: Buck");
+      break;
+    case TETENS:
+      ESP_LOGCONFIG(TAG, "Saturation Vapor Pressure Equation: Tetens");
+      break;
+    case WOBUS:
+      ESP_LOGCONFIG(TAG, "Saturation Vapor Pressure Equation: Wobus");
+      break;
+    default:
+      ESP_LOGE(TAG, "Invalid saturation vapor pressure equation selection!");
+      break;
+  }
+
+  ESP_LOGCONFIG(TAG, "Sources");
+  ESP_LOGCONFIG(TAG, "  Temperature: '%s'", this->temperature_sensor_->get_name().c_str());
+  ESP_LOGCONFIG(TAG, "  Relative Humidity: '%s'", this->humidity_sensor_->get_name().c_str());
+}
+
+float AbsoluteHumidityComponent::get_setup_priority() const { return setup_priority::DATA; }
+
+void AbsoluteHumidityComponent::loop() {
+  if (!this->next_update_) {
+    return;
+  }
+  this->next_update_ = false;
+
+  // Ensure we have source data
+  const bool no_temperature = std::isnan(this->temperature_);
+  const bool no_humidity = std::isnan(this->humidity_);
+  if (no_temperature || no_humidity) {
+    if (no_temperature) {
+      ESP_LOGW(TAG, "No valid state from temperature sensor!");
+    }
+    if (no_humidity) {
+      ESP_LOGW(TAG, "No valid state from temperature sensor!");
+    }
+    ESP_LOGW(TAG, "Unable to calculate absolute humidity.");
+    this->publish_state(NAN);
+    this->status_set_warning();
+    return;
+  }
+
+  // Convert to desired units
+  const float temperature_c = this->temperature_;
+  const float temperature_k = temperature_c + 273.15;
+  const float hr = this->humidity_ / 100;
+
+  // Calculate saturation vapor pressure
+  float es;
+  switch (this->equation_) {
+    case BUCK:
+      es = es_buck(temperature_c);
+      break;
+    case TETENS:
+      es = es_tetens(temperature_c);
+      break;
+    case WOBUS:
+      es = es_wobus(temperature_c);
+      break;
+    default:
+      ESP_LOGE(TAG, "Invalid saturation vapor pressure equation selection!");
+      this->publish_state(NAN);
+      this->status_set_error();
+      return;
+  }
+  ESP_LOGD(TAG, "Saturation vapor pressure %f kPa", es);
+
+  // Calculate absolute humidity
+  const float absolute_humidity = vapor_density(es, hr, temperature_k);
+
+  // Publish absolute humidity
+  ESP_LOGD(TAG, "Publishing absolute humidity %f g/m³", absolute_humidity);
+  this->status_clear_warning();
+  this->publish_state(absolute_humidity);
+}
+
+// Buck equation (https://en.wikipedia.org/wiki/Arden_Buck_equation)
+// More accurate than Tetens in normal meteorologic conditions
+float AbsoluteHumidityComponent::es_buck(float temperature_c) {
+  float a, b, c, d;
+  if (temperature_c >= 0) {
+    a = 0.61121;
+    b = 18.678;
+    c = 234.5;
+    d = 257.14;
+  } else {
+    a = 0.61115;
+    b = 18.678;
+    c = 233.7;
+    d = 279.82;
+  }
+  return a * expf((b - (temperature_c / c)) * (temperature_c / (d + temperature_c)));
+}
+
+// Tetens equation (https://en.wikipedia.org/wiki/Tetens_equation)
+float AbsoluteHumidityComponent::es_tetens(float temperature_c) {
+  float a, b;
+  if (temperature_c >= 0) {
+    a = 17.27;
+    b = 237.3;
+  } else {
+    a = 21.875;
+    b = 265.5;
+  }
+  return 0.61078 * expf((a * temperature_c) / (temperature_c + b));
+}
+
+// Wobus equation
+// https://wahiduddin.net/calc/density_altitude.htm
+// https://wahiduddin.net/calc/density_algorithms.htm
+// Calculate the saturation vapor pressure (kPa)
+float AbsoluteHumidityComponent::es_wobus(float t) {
+  // THIS FUNCTION RETURNS THE SATURATION VAPOR PRESSURE ESW (MILLIBARS)
+  // OVER LIQUID WATER GIVEN THE TEMPERATURE T (CELSIUS). THE POLYNOMIAL
+  // APPROXIMATION BELOW IS DUE TO HERMAN WOBUS, A MATHEMATICIAN WHO
+  // WORKED AT THE NAVY WEATHER RESEARCH FACILITY, NORFOLK, VIRGINIA,
+  // BUT WHO IS NOW RETIRED. THE COEFFICIENTS OF THE POLYNOMIAL WERE
+  // CHOSEN TO FIT THE VALUES IN TABLE 94 ON PP. 351-353 OF THE SMITH-
+  // SONIAN METEOROLOGICAL TABLES BY ROLAND LIST (6TH EDITION). THE
+  // APPROXIMATION IS VALID FOR -50 < T < 100C.
+  //
+  //     Baker, Schlatter  17-MAY-1982     Original version.
+
+  const float c0 = +0.99999683e00;
+  const float c1 = -0.90826951e-02;
+  const float c2 = +0.78736169e-04;
+  const float c3 = -0.61117958e-06;
+  const float c4 = +0.43884187e-08;
+  const float c5 = -0.29883885e-10;
+  const float c6 = +0.21874425e-12;
+  const float c7 = -0.17892321e-14;
+  const float c8 = +0.11112018e-16;
+  const float c9 = -0.30994571e-19;
+  const float p = c0 + t * (c1 + t * (c2 + t * (c3 + t * (c4 + t * (c5 + t * (c6 + t * (c7 + t * (c8 + t * (c9)))))))));
+  return 0.61078 / pow(p, 8);
+}
+
+// From https://www.environmentalbiophysics.org/chalk-talk-how-to-calculate-absolute-humidity/
+// H/T to https://esphome.io/cookbook/bme280_environment.html
+// H/T to https://carnotcycle.wordpress.com/2012/08/04/how-to-convert-relative-humidity-to-absolute-humidity/
+float AbsoluteHumidityComponent::vapor_density(float es, float hr, float ta) {
+  // es = saturated vapor pressure (kPa)
+  // hr = relative humidity [0-1]
+  // ta = absolute temperature (K)
+
+  const float ea = hr * es * 1000;   // vapor pressure of the air (Pa)
+  const float mw = 18.01528;         // molar mass of water (g⋅mol⁻¹)
+  const float r = 8.31446261815324;  // molar gas constant (J⋅K⁻¹)
+  return (ea * mw) / (r * ta);
+}
+
+}  // namespace absolute_humidity
+}  // namespace esphome
diff --git a/esphome/components/absolute_humidity/absolute_humidity.h b/esphome/components/absolute_humidity/absolute_humidity.h
new file mode 100644
index 0000000000..9f3b9eab8b
--- /dev/null
+++ b/esphome/components/absolute_humidity/absolute_humidity.h
@@ -0,0 +1,76 @@
+#pragma once
+
+#include "esphome/core/component.h"
+#include "esphome/components/sensor/sensor.h"
+
+namespace esphome {
+namespace absolute_humidity {
+
+/// Enum listing all implemented saturation vapor pressure equations.
+enum SaturationVaporPressureEquation {
+  BUCK,
+  TETENS,
+  WOBUS,
+};
+
+/// This class implements calculation of absolute humidity from temperature and relative humidity.
+class AbsoluteHumidityComponent : public sensor::Sensor, public Component {
+ public:
+  AbsoluteHumidityComponent() = default;
+
+  void set_temperature_sensor(sensor::Sensor *temperature_sensor) { this->temperature_sensor_ = temperature_sensor; }
+  void set_humidity_sensor(sensor::Sensor *humidity_sensor) { this->humidity_sensor_ = humidity_sensor; }
+  void set_equation(SaturationVaporPressureEquation equation) { this->equation_ = equation; }
+
+  void setup() override;
+  void dump_config() override;
+  float get_setup_priority() const override;
+  void loop() override;
+
+ protected:
+  void temperature_callback_(float state) {
+    this->next_update_ = true;
+    this->temperature_ = state;
+  }
+  void humidity_callback_(float state) {
+    this->next_update_ = true;
+    this->humidity_ = state;
+  }
+
+  /** Buck equation for saturation vapor pressure in kPa.
+   *
+   * @param temperature_c Air temperature in °C.
+   */
+  static float es_buck(float temperature_c);
+  /** Tetens equation for saturation vapor pressure in kPa.
+   *
+   * @param temperature_c Air temperature in °C.
+   */
+  static float es_tetens(float temperature_c);
+  /** Wobus equation for saturation vapor pressure in kPa.
+   *
+   * @param temperature_c Air temperature in °C.
+   */
+  static float es_wobus(float temperature_c);
+
+  /** Calculate vapor density (absolute humidity) in g/m³.
+   *
+   * @param es Saturation vapor pressure in kPa.
+   * @param hr Relative humidity 0 to 1.
+   * @param ta Absolute temperature in K.
+   * @param heater_duration The duration in ms that the heater should turn on for when measuring.
+   */
+  static float vapor_density(float es, float hr, float ta);
+
+  sensor::Sensor *temperature_sensor_{nullptr};
+  sensor::Sensor *humidity_sensor_{nullptr};
+
+  bool next_update_{false};
+
+  float temperature_{NAN};
+  float humidity_{NAN};
+  SaturationVaporPressureEquation equation_;
+};
+
+}  // namespace absolute_humidity
+}  // namespace esphome
diff --git a/esphome/components/absolute_humidity/sensor.py b/esphome/components/absolute_humidity/sensor.py
new file mode 100644
index 0000000000..f2b075f4d9
--- /dev/null
+++ b/esphome/components/absolute_humidity/sensor.py
@@ -0,0 +1,56 @@
+import esphome.codegen as cg
+import esphome.config_validation as cv
+from esphome.components import sensor
+from esphome.const import (
+    CONF_HUMIDITY,
+    CONF_TEMPERATURE,
+    STATE_CLASS_MEASUREMENT,
+    CONF_EQUATION,
+    ICON_WATER,
+    UNIT_GRAMS_PER_CUBIC_METER,
+)
+
+absolute_humidity_ns = cg.esphome_ns.namespace("absolute_humidity")
+AbsoluteHumidityComponent = absolute_humidity_ns.class_(
+    "AbsoluteHumidityComponent", sensor.Sensor, cg.Component
+)
+
+SaturationVaporPressureEquation = absolute_humidity_ns.enum(
+    "SaturationVaporPressureEquation"
+)
+EQUATION = {
+    "BUCK": SaturationVaporPressureEquation.BUCK,
+    "TETENS": SaturationVaporPressureEquation.TETENS,
+    "WOBUS": SaturationVaporPressureEquation.WOBUS,
+}
+
+CONFIG_SCHEMA = (
+    sensor.sensor_schema(
+        unit_of_measurement=UNIT_GRAMS_PER_CUBIC_METER,
+        icon=ICON_WATER,
+        accuracy_decimals=2,
+        state_class=STATE_CLASS_MEASUREMENT,
+    )
+    .extend(
+        {
+            cv.GenerateID(): cv.declare_id(AbsoluteHumidityComponent),
+            cv.Required(CONF_TEMPERATURE): cv.use_id(sensor.Sensor),
+            cv.Required(CONF_HUMIDITY): cv.use_id(sensor.Sensor),
+            cv.Optional(CONF_EQUATION, default="WOBUS"): cv.enum(EQUATION, upper=True),
+        }
+    )
+    .extend(cv.COMPONENT_SCHEMA)
+)
+
+
+async def to_code(config):
+    var = await sensor.new_sensor(config)
+    await cg.register_component(var, config)
+
+    temperature_sensor = await cg.get_variable(config[CONF_TEMPERATURE])
+    cg.add(var.set_temperature_sensor(temperature_sensor))
+
+    humidity_sensor = await cg.get_variable(config[CONF_HUMIDITY])
+    cg.add(var.set_humidity_sensor(humidity_sensor))
+
+    cg.add(var.set_equation(config[CONF_EQUATION]))
diff --git a/esphome/const.py b/esphome/const.py
index 0ab9dd54bf..289a59b424 100644
--- a/esphome/const.py
+++ b/esphome/const.py
@@ -214,6 +214,7 @@ CONF_ENERGY = "energy"
 CONF_ENTITY_CATEGORY = "entity_category"
 CONF_ENTITY_ID = "entity_id"
 CONF_ENUM_DATAPOINT = "enum_datapoint"
+CONF_EQUATION = "equation"
 CONF_ESP8266_DISABLE_SSL_SUPPORT = "esp8266_disable_ssl_support"
 CONF_ESPHOME = "esphome"
 CONF_ETHERNET = "ethernet"
@@ -860,6 +861,7 @@ ICON_SIGNAL_DISTANCE_VARIANT = "mdi:signal"
 ICON_THERMOMETER = "mdi:thermometer"
 ICON_TIMELAPSE = "mdi:timelapse"
 ICON_TIMER = "mdi:timer-outline"
+ICON_WATER = "mdi:water"
 ICON_WATER_PERCENT = "mdi:water-percent"
 ICON_WEATHER_SUNSET = "mdi:weather-sunset"
 ICON_WEATHER_SUNSET_DOWN = "mdi:weather-sunset-down"
@@ -881,6 +883,7 @@ UNIT_DEGREE_PER_SECOND = "°/s"
 UNIT_DEGREES = "°"
 UNIT_EMPTY = ""
 UNIT_G = "G"
+UNIT_GRAMS_PER_CUBIC_METER = "g/m³"
 UNIT_HECTOPASCAL = "hPa"
 UNIT_HERTZ = "Hz"
 UNIT_HOUR = "h"
diff --git a/tests/test1.yaml b/tests/test1.yaml
index 4312f2c613..8180400730 100644
--- a/tests/test1.yaml
+++ b/tests/test1.yaml
@@ -1229,6 +1229,10 @@ sensor:
     model: 1005
     update_interval: 60s
     i2c_id: i2c_bus
+  - platform: absolute_humidity
+    name: DHT Absolute Humidity
+    temperature: dht_temperature
+    humidity: dht_humidity
 
 esp32_touch:
   setup_mode: false