diff --git a/Include/internal/pycore_gc.h b/Include/internal/pycore_gc.h
index 582a16bf5218ce..a98864f7431398 100644
--- a/Include/internal/pycore_gc.h
+++ b/Include/internal/pycore_gc.h
@@ -260,6 +260,13 @@ struct _gc_runtime_state {
     Py_ssize_t long_lived_pending;
 };
 
+#ifdef Py_GIL_DISABLED
+struct _gc_thread_state {
+    /* Thread-local allocation count. */
+    Py_ssize_t alloc_count;
+};
+#endif
+
 
 extern void _PyGC_InitState(struct _gc_runtime_state *);
 
diff --git a/Include/internal/pycore_tstate.h b/Include/internal/pycore_tstate.h
index 97aa85a659fa7b..7fb9ab2056704e 100644
--- a/Include/internal/pycore_tstate.h
+++ b/Include/internal/pycore_tstate.h
@@ -28,6 +28,7 @@ typedef struct _PyThreadStateImpl {
     PyThreadState base;
 
 #ifdef Py_GIL_DISABLED
+    struct _gc_thread_state gc;
     struct _mimalloc_thread_state mimalloc;
     struct _Py_object_freelists freelists;
     struct _brc_thread_state brc;
diff --git a/Lib/test/test_frame.py b/Lib/test/test_frame.py
index baed03d92b9e56..f88206de550da0 100644
--- a/Lib/test/test_frame.py
+++ b/Lib/test/test_frame.py
@@ -13,7 +13,7 @@
     _testcapi = None
 
 from test import support
-from test.support import threading_helper
+from test.support import threading_helper, Py_GIL_DISABLED
 from test.support.script_helper import assert_python_ok
 
 
@@ -294,6 +294,7 @@ def gen():
         assert_python_ok("-c", code)
 
     @support.cpython_only
+    @unittest.skipIf(Py_GIL_DISABLED, "test requires precise GC scheduling")
     def test_sneaky_frame_object(self):
 
         def trace(frame, event, arg):
diff --git a/Lib/test/test_gc.py b/Lib/test/test_gc.py
index b01f344cb14a1a..dd09643788d62f 100644
--- a/Lib/test/test_gc.py
+++ b/Lib/test/test_gc.py
@@ -363,6 +363,7 @@ def __del__(self):
     # To minimize variations, though, we first store the get_count() results
     # and check them at the end.
     @refcount_test
+    @unittest.skipIf(Py_GIL_DISABLED, 'needs precise allocation counts')
     def test_get_count(self):
         gc.collect()
         a, b, c = gc.get_count()
diff --git a/Modules/gcmodule.c b/Modules/gcmodule.c
index a2b66b9b78c169..961165e16a0fee 100644
--- a/Modules/gcmodule.c
+++ b/Modules/gcmodule.c
@@ -201,6 +201,16 @@ gc_get_count_impl(PyObject *module)
 /*[clinic end generated code: output=354012e67b16398f input=a392794a08251751]*/
 {
     GCState *gcstate = get_gc_state();
+
+#ifdef Py_GIL_DISABLED
+    _PyThreadStateImpl *tstate = (_PyThreadStateImpl *)_PyThreadState_GET();
+    struct _gc_thread_state *gc = &tstate->gc;
+
+    // Flush the local allocation count to the global count
+    _Py_atomic_add_int(&gcstate->generations[0].count, (int)gc->alloc_count);
+    gc->alloc_count = 0;
+#endif
+
     return Py_BuildValue("(iii)",
                          gcstate->generations[0].count,
                          gcstate->generations[1].count,
diff --git a/Objects/typeobject.c b/Objects/typeobject.c
index c65d0ec2acae52..7dcc0c4bee317e 100644
--- a/Objects/typeobject.c
+++ b/Objects/typeobject.c
@@ -1744,6 +1744,8 @@ _PyType_AllocNoTrack(PyTypeObject *type, Py_ssize_t nitems)
     if (presize) {
         ((PyObject **)alloc)[0] = NULL;
         ((PyObject **)alloc)[1] = NULL;
+    }
+    if (PyType_IS_GC(type)) {
         _PyObject_GC_Link(obj);
     }
     memset(obj, '\0', size);
diff --git a/Python/gc_free_threading.c b/Python/gc_free_threading.c
index 3dc1dc19182eb4..a758c99285a539 100644
--- a/Python/gc_free_threading.c
+++ b/Python/gc_free_threading.c
@@ -23,6 +23,11 @@ typedef struct _gc_runtime_state GCState;
 #  define GC_DEBUG
 #endif
 
+// Each thread buffers the count of allocated objects in a thread-local
+// variable up to +/- this amount to reduce the overhead of updating
+// the global count.
+#define LOCAL_ALLOC_COUNT_THRESHOLD 512
+
 // Automatically choose the generation that needs collecting.
 #define GENERATION_AUTO (-1)
 
@@ -959,6 +964,41 @@ gc_should_collect(GCState *gcstate)
             gcstate->generations[1].threshold == 0);
 }
 
+static void
+record_allocation(PyThreadState *tstate)
+{
+    struct _gc_thread_state *gc = &((_PyThreadStateImpl *)tstate)->gc;
+
+    // We buffer the allocation count to avoid the overhead of atomic
+    // operations for every allocation.
+    gc->alloc_count++;
+    if (gc->alloc_count >= LOCAL_ALLOC_COUNT_THRESHOLD) {
+        // TODO: Use Py_ssize_t for the generation count.
+        GCState *gcstate = &tstate->interp->gc;
+        _Py_atomic_add_int(&gcstate->generations[0].count, (int)gc->alloc_count);
+        gc->alloc_count = 0;
+
+        if (gc_should_collect(gcstate) &&
+            !_Py_atomic_load_int_relaxed(&gcstate->collecting))
+        {
+            _Py_ScheduleGC(tstate->interp);
+        }
+    }
+}
+
+static void
+record_deallocation(PyThreadState *tstate)
+{
+    struct _gc_thread_state *gc = &((_PyThreadStateImpl *)tstate)->gc;
+
+    gc->alloc_count--;
+    if (gc->alloc_count <= -LOCAL_ALLOC_COUNT_THRESHOLD) {
+        GCState *gcstate = &tstate->interp->gc;
+        _Py_atomic_add_int(&gcstate->generations[0].count, (int)gc->alloc_count);
+        gc->alloc_count = 0;
+    }
+}
+
 static void
 gc_collect_internal(PyInterpreterState *interp, struct collection_state *state)
 {
@@ -981,6 +1021,9 @@ gc_collect_internal(PyInterpreterState *interp, struct collection_state *state)
         }
     }
 
+    // Record the number of live GC objects
+    interp->gc.long_lived_total = state->long_lived_total;
+
     // Clear weakrefs and enqueue callbacks (but do not call them).
     clear_weakrefs(state);
     _PyEval_StartTheWorld(interp);
@@ -1090,7 +1133,6 @@ gc_collect_main(PyThreadState *tstate, int generation, _PyGC_Reason reason)
 
     m = state.collected;
     n = state.uncollectable;
-    gcstate->long_lived_total = state.long_lived_total;
 
     if (gcstate->debug & _PyGC_DEBUG_STATS) {
         double d = _PyTime_AsSecondsDouble(_PyTime_GetPerfCounter() - t1);
@@ -1530,15 +1572,7 @@ _Py_ScheduleGC(PyInterpreterState *interp)
 void
 _PyObject_GC_Link(PyObject *op)
 {
-    PyThreadState *tstate = _PyThreadState_GET();
-    GCState *gcstate = &tstate->interp->gc;
-    gcstate->generations[0].count++;
-
-    if (gc_should_collect(gcstate) &&
-        !_Py_atomic_load_int_relaxed(&gcstate->collecting))
-    {
-        _Py_ScheduleGC(tstate->interp);
-    }
+    record_allocation(_PyThreadState_GET());
 }
 
 void
@@ -1564,7 +1598,7 @@ gc_alloc(PyTypeObject *tp, size_t basicsize, size_t presize)
         ((PyObject **)mem)[1] = NULL;
     }
     PyObject *op = (PyObject *)(mem + presize);
-    _PyObject_GC_Link(op);
+    record_allocation(tstate);
     return op;
 }
 
@@ -1646,10 +1680,9 @@ PyObject_GC_Del(void *op)
         PyErr_SetRaisedException(exc);
 #endif
     }
-    GCState *gcstate = get_gc_state();
-    if (gcstate->generations[0].count > 0) {
-        gcstate->generations[0].count--;
-    }
+
+    record_deallocation(_PyThreadState_GET());
+
     PyObject_Free(((char *)op)-presize);
 }