diff --git a/esphome/platformio/library.py b/esphome/platformio/library.py
index af2010711f..e551d8f1c0 100644
--- a/esphome/platformio/library.py
+++ b/esphome/platformio/library.py
@@ -620,8 +620,13 @@ def _make_registry_client() -> Any:
     elsewhere, not by the PlatformIO registry.
     """
     from platformio.package.manager._registry import PackageManagerRegistryMixin
+    from platformio.project.helpers import get_project_cache_dir
     from platformio.registry.client import RegistryClient
 
+    # PlatformIO creates its HTTP cache dir without exist_ok, so two builds
+    # making their first registry lookup at once race on it
+    (Path(get_project_cache_dir()) / "http").mkdir(parents=True, exist_ok=True)
+
     class _Registry(PackageManagerRegistryMixin):
         def __init__(self) -> None:
             self.pkg_type = "library"
diff --git a/tests/unit_tests/test_platformio_library.py b/tests/unit_tests/test_platformio_library.py
index dba8977f1a..658c7211ab 100644
--- a/tests/unit_tests/test_platformio_library.py
+++ b/tests/unit_tests/test_platformio_library.py
@@ -247,6 +247,20 @@ def test_make_registry_client_skips_private_package_probe(monkeypatch):
     assert RegistryClient.__dict__["allowed_private_packages"] is pio_probe
 
 
+def test_make_registry_client_creates_http_cache_dir(
+    monkeypatch: pytest.MonkeyPatch, tmp_path: Path
+) -> None:
+    """The HTTP cache dir exists before PlatformIO's non-exist_ok makedirs runs."""
+    from platformio.project import helpers
+
+    monkeypatch.setattr(helpers, "get_project_cache_dir", lambda: str(tmp_path))
+
+    lib._make_registry_client()
+    assert (tmp_path / "http").is_dir()
+    # A second client (another build) must not trip over the existing dir
+    lib._make_registry_client()
+
+
 def _patch_registry_resolve(monkeypatch: pytest.MonkeyPatch) -> None:
     """Stub the registry lookup so tests never touch the network."""
     monkeypatch.setattr(