For example I have an ASP.NET project by name myWebSite.
The below ways to change the http://localhost:12421/ server address to a IP address for e.g:  192.168.1.7:80 always worked for me.
- Enable IISExpress on your computer

- Add a NetShare Reservation
Open your Command Line (CMD) Run As Administrator in Windows and go to c:\Windows\system32>, then type:
 netsh http add urlacl url=http://192.168.1.7:80/ user=everyoneand then pressEnterkey.
 You should be seen aURL reservation successfully addedmessage.

- Go to C:/Users/UserName/Documents/IISExpress/config/and openapplicationhost.config.
 In theapplicationhost.configfile find your site in the<sites>section.
 Example:
<sites>
    <site name="myWebSit" id="1">
        <application path="/" applicationPool="Clr4IntegratedAppPool">
            <virtualDirectory path="/" physicalPath="D:\myWebSit\myWebSit" />
        </application>
        <bindings>
            <binding protocol="http" bindingInformation="*:12421:localhost" />
        </bindings>
    </site>
</sites>
Now change address to your IP instead localhost. For e.g:
<binding protocol="http" bindingInformation="*:80:192.168.1.7" />
- Change Project Url to own address
 Open your project on Visual Studio; Right click on your start up project and selectproperties.
In the properties selectWebtab and then change Project Url text box contents to your address. For e.g:http://192.168.1.7:80/and click onCreate Virtual Directorybutton.
 You should be seen aThe virtual directory was created successfully.message.

Now, you should be able to run your project in Visual Studio by own IP address.
Reference