Elastoresistivity, the relation between resistivity and strain, can elucidate the subtle properties of the electronic structure of a material and is an increasingly important tool for the study of strongly correlated materials. To date, elastoresistivity measurements have predominantly been performed with quasi-static (DC) strain. In this work, we demonstrate a method using AC strain in elastoresistivity measurements. A sample experiencing AC strain has a time-dependent resistivity, which modulates the voltage produced by an AC current; this effect produces time-dependent variations in resistivity that are directly proportional to the elastoresistivity, and which can be measured more quickly, with less strain on the sample, and with less stringent requirements for temperature stability than the previous DC technique. Example measurements between 10 Hz and 3 kHz are performed on a material with a large, well-characterized and temperature dependent elastoresistivity: the representative iron-based superconductor Ba(Fe0.975Co0.025)2As2. These measurements yield a frequency independent elastoresistivity and reproduce results from previous DC elastoresistivity methods to within experimental accuracy. We emphasize that the dynamic (AC) elastoresistivity is a distinct material-specific property that has not previously been considered.