A computer system that is programmed with virtual memory accesses to physical memory employs multi-bit counters associated with its page table entries. When a page walker visits a page table entry, the multi-bit counter associated with that page table entry is incremented by one. The computer operating system uses the counts in the multi-bit counters of different page table entries to determine where large pages can be deployed effectively. In a virtualized computer system having a nested paging system, multi-bit counters associated with both its primary page table entries and its nested page table entries are used. These multi-bit counters are incremented during nested page walks. Subsequently, the guest operating systems and the virtual machine monitors use the counts in the appropriate multi-bit counters to determine where large pages can be deployed effectively.