diff --git a/homeassistant/components/monoprice/manifest.json b/homeassistant/components/monoprice/manifest.json
index cfa112f7857..398c8c48bb5 100644
--- a/homeassistant/components/monoprice/manifest.json
+++ b/homeassistant/components/monoprice/manifest.json
@@ -6,5 +6,5 @@
   "documentation": "https://www.home-assistant.io/integrations/monoprice",
   "iot_class": "local_polling",
   "loggers": ["pymonoprice"],
-  "requirements": ["pymonoprice==0.4"]
+  "requirements": ["pymonoprice==0.5"]
 }
diff --git a/requirements_all.txt b/requirements_all.txt
index b75a49e1eb1..2f1f4d3c5d8 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -2150,7 +2150,7 @@ pymochad==0.2.0
 pymodbus==3.9.2
 
 # homeassistant.components.monoprice
-pymonoprice==0.4
+pymonoprice==0.5
 
 # homeassistant.components.msteams
 pymsteams==0.1.12
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index 9ce8ed16916..544a65ad4cd 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -1786,7 +1786,7 @@ pymochad==0.2.0
 pymodbus==3.9.2
 
 # homeassistant.components.monoprice
-pymonoprice==0.4
+pymonoprice==0.5
 
 # homeassistant.components.mysensors
 pymysensors==0.24.0
diff --git a/script/hassfest/requirements.py b/script/hassfest/requirements.py
index 1d4518812b3..3c30847fdbf 100644
--- a/script/hassfest/requirements.py
+++ b/script/hassfest/requirements.py
@@ -220,11 +220,6 @@ FORBIDDEN_PACKAGE_EXCEPTIONS: dict[str, dict[str, set[str]]] = {
         # pymochad > pbr > setuptools
         "pbr": {"setuptools"}
     },
-    "monoprice": {
-        # https://github.com/etsinko/pymonoprice/issues/9
-        # pymonoprice > pyserial-asyncio
-        "pymonoprice": {"pyserial-asyncio"}
-    },
     "mysensors": {
         # https://github.com/theolind/pymysensors/issues/818
         # pymysensors > pyserial-asyncio