diff --git a/homeassistant/components/esphome/diagnostics.py b/homeassistant/components/esphome/diagnostics.py
index 58c9a8fe666..c68bd560791 100644
--- a/homeassistant/components/esphome/diagnostics.py
+++ b/homeassistant/components/esphome/diagnostics.py
@@ -13,9 +13,7 @@ from . import CONF_NOISE_PSK
 from .dashboard import async_get_dashboard
 from .entry_data import ESPHomeConfigEntry
 
-CONF_MAC_ADDRESS = "mac_address"
-
-REDACT_KEYS = {CONF_NOISE_PSK, CONF_PASSWORD, CONF_MAC_ADDRESS}
+REDACT_KEYS = {CONF_NOISE_PSK, CONF_PASSWORD, "mac_address", "bluetooth_mac_address"}
 
 
 async def async_get_config_entry_diagnostics(
diff --git a/homeassistant/components/esphome/manifest.json b/homeassistant/components/esphome/manifest.json
index fea2aa03c7a..b4360077604 100644
--- a/homeassistant/components/esphome/manifest.json
+++ b/homeassistant/components/esphome/manifest.json
@@ -16,7 +16,7 @@
   "loggers": ["aioesphomeapi", "noiseprotocol", "bleak_esphome"],
   "mqtt": ["esphome/discover/#"],
   "requirements": [
-    "aioesphomeapi==29.3.0",
+    "aioesphomeapi==29.3.1",
     "esphome-dashboard-api==1.2.3",
     "bleak-esphome==2.8.0"
   ],
diff --git a/requirements_all.txt b/requirements_all.txt
index b4235c7de0a..a321d9467b6 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -243,7 +243,7 @@ aioelectricitymaps==0.4.0
 aioemonitor==1.0.5
 
 # homeassistant.components.esphome
-aioesphomeapi==29.3.0
+aioesphomeapi==29.3.1
 
 # homeassistant.components.flo
 aioflo==2021.11.0
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index 624052bc2e9..38feed9656c 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -231,7 +231,7 @@ aioelectricitymaps==0.4.0
 aioemonitor==1.0.5
 
 # homeassistant.components.esphome
-aioesphomeapi==29.3.0
+aioesphomeapi==29.3.1
 
 # homeassistant.components.flo
 aioflo==2021.11.0
diff --git a/tests/components/esphome/conftest.py b/tests/components/esphome/conftest.py
index dc6195bfe1f..94f621b8646 100644
--- a/tests/components/esphome/conftest.py
+++ b/tests/components/esphome/conftest.py
@@ -581,7 +581,10 @@ async def mock_bluetooth_entry(
         return await _mock_generic_device_entry(
             hass,
             mock_client,
-            {"bluetooth_proxy_feature_flags": bluetooth_proxy_feature_flags},
+            {
+                "bluetooth_mac_address": "AA:BB:CC:DD:EE:FC",
+                "bluetooth_proxy_feature_flags": bluetooth_proxy_feature_flags,
+            },
             ([], []),
             [],
         )
diff --git a/tests/components/esphome/test_diagnostics.py b/tests/components/esphome/test_diagnostics.py
index 2b2629324d2..a4b858ed7de 100644
--- a/tests/components/esphome/test_diagnostics.py
+++ b/tests/components/esphome/test_diagnostics.py
@@ -89,6 +89,7 @@ async def test_diagnostics_with_bluetooth(
         "storage_data": {
             "api_version": {"major": 99, "minor": 99},
             "device_info": {
+                "bluetooth_mac_address": "**REDACTED**",
                 "bluetooth_proxy_feature_flags": 63,
                 "compilation_time": "",
                 "esphome_version": "1.0.0",