diff --git a/homeassistant/components/update/__init__.py b/homeassistant/components/update/__init__.py
index 8597647fc18..d4ceff9dc24 100644
--- a/homeassistant/components/update/__init__.py
+++ b/homeassistant/components/update/__init__.py
@@ -5,7 +5,7 @@ from datetime import timedelta
 from enum import StrEnum
 from functools import lru_cache
 import logging
-from typing import Any, Final, final
+from typing import TYPE_CHECKING, Any, Final, final
 
 from awesomeversion import AwesomeVersion, AwesomeVersionCompareException
 import voluptuous as vol
@@ -20,7 +20,7 @@ from homeassistant.helpers.config_validation import (
     PLATFORM_SCHEMA,
     PLATFORM_SCHEMA_BASE,
 )
-from homeassistant.helpers.entity import EntityDescription
+from homeassistant.helpers.entity import ABCCachedProperties, EntityDescription
 from homeassistant.helpers.entity_component import EntityComponent
 from homeassistant.helpers.restore_state import RestoreEntity
 from homeassistant.helpers.typing import ConfigType
@@ -42,6 +42,11 @@ from .const import (
     UpdateEntityFeature,
 )
 
+if TYPE_CHECKING:
+    from functools import cached_property
+else:
+    from homeassistant.backports.functools import cached_property
+
 SCAN_INTERVAL = timedelta(minutes=15)
 
 ENTITY_ID_FORMAT: Final = DOMAIN + ".{}"
@@ -187,7 +192,24 @@ def _version_is_newer(latest_version: str, installed_version: str) -> bool:
     return AwesomeVersion(latest_version) > installed_version
 
 
-class UpdateEntity(RestoreEntity):
+CACHED_PROPERTIES_WITH_ATTR_ = {
+    "auto_update",
+    "installed_version",
+    "device_class",
+    "in_progress",
+    "latest_version",
+    "release_summary",
+    "release_url",
+    "supported_features",
+    "title",
+}
+
+
+class UpdateEntity(
+    RestoreEntity,
+    metaclass=ABCCachedProperties,
+    cached_properties=CACHED_PROPERTIES_WITH_ATTR_,
+):
     """Representation of an update entity."""
 
     _entity_component_unrecorded_attributes = frozenset(
@@ -208,12 +230,12 @@ class UpdateEntity(RestoreEntity):
     __skipped_version: str | None = None
     __in_progress: bool = False
 
-    @property
+    @cached_property
     def auto_update(self) -> bool:
         """Indicate if the device or service has auto update enabled."""
         return self._attr_auto_update
 
-    @property
+    @cached_property
     def installed_version(self) -> str | None:
         """Version installed and in use."""
         return self._attr_installed_version
@@ -225,7 +247,7 @@ class UpdateEntity(RestoreEntity):
         """
         return self.device_class is not None
 
-    @property
+    @cached_property
     def device_class(self) -> UpdateDeviceClass | None:
         """Return the class of this entity."""
         if hasattr(self, "_attr_device_class"):
@@ -256,7 +278,7 @@ class UpdateEntity(RestoreEntity):
             f"https://brands.home-assistant.io/_/{self.platform.platform_name}/icon.png"
         )
 
-    @property
+    @cached_property
     def in_progress(self) -> bool | int | None:
         """Update installation progress.
 
@@ -267,12 +289,12 @@ class UpdateEntity(RestoreEntity):
         """
         return self._attr_in_progress
 
-    @property
+    @cached_property
     def latest_version(self) -> str | None:
         """Latest version available for install."""
         return self._attr_latest_version
 
-    @property
+    @cached_property
     def release_summary(self) -> str | None:
         """Summary of the release notes or changelog.
 
@@ -281,17 +303,17 @@ class UpdateEntity(RestoreEntity):
         """
         return self._attr_release_summary
 
-    @property
+    @cached_property
     def release_url(self) -> str | None:
         """URL to the full release notes of the latest version available."""
         return self._attr_release_url
 
-    @property
+    @cached_property
     def supported_features(self) -> UpdateEntityFeature:
         """Flag supported features."""
         return self._attr_supported_features
 
-    @property
+    @cached_property
     def title(self) -> str | None:
         """Title of the software.
 
diff --git a/tests/components/update/test_init.py b/tests/components/update/test_init.py
index 73f98c9e2db..629c6838654 100644
--- a/tests/components/update/test_init.py
+++ b/tests/components/update/test_init.py
@@ -128,6 +128,7 @@ async def test_update(hass: HomeAssistant) -> None:
     update.entity_description = UpdateEntityDescription(key="F5 - Its very refreshing")
     assert update.device_class is None
     assert update.entity_category is EntityCategory.CONFIG
+    del update.device_class
     update.entity_description = UpdateEntityDescription(
         key="F5 - Its very refreshing",
         device_class=UpdateDeviceClass.FIRMWARE,