diff --git a/src/memusage.h b/src/memusage.h
index 08be66172e3..9d9e549ef22 100644
--- a/src/memusage.h
+++ b/src/memusage.h
@@ -15,6 +15,7 @@
 #include <map>
 #include <memory>
 #include <set>
+#include <string>
 #include <vector>
 #include <unordered_map>
 #include <unordered_set>
@@ -84,10 +85,22 @@ struct stl_shared_counter
     size_t weak_count;
 };
 
-template<typename X>
-static inline size_t DynamicUsage(const std::vector<X>& v)
+template<typename T, typename Allocator>
+static inline size_t DynamicUsage(const std::vector<T, Allocator>& v)
 {
-    return MallocUsage(v.capacity() * sizeof(X));
+    return MallocUsage(v.capacity() * sizeof(T));
+}
+
+static inline size_t DynamicUsage(const std::string& s)
+{
+    const char* s_ptr = reinterpret_cast<const char*>(&s);
+    // Don't count the dynamic memory used for string, if it resides in the
+    // "small string" optimization area (which stores data inside the object itself, up to some
+    // size; 15 bytes in modern libstdc++).
+    if (!std::less{}(s.data(), s_ptr) && !std::greater{}(s.data() + s.size(), s_ptr + sizeof(s))) {
+        return 0;
+    }
+    return MallocUsage(s.capacity());
 }
 
 template<unsigned int N, typename X, typename S, typename D>
diff --git a/src/net.cpp b/src/net.cpp
index d76b39f75d5..f1ac681b998 100644
--- a/src/net.cpp
+++ b/src/net.cpp
@@ -121,10 +121,12 @@ std::string strSubVersion;
 
 size_t CSerializedNetMsg::GetMemoryUsage() const noexcept
 {
-    // Don't count the dynamic memory used for the m_type string, by assuming it fits in the
-    // "small string" optimization area (which stores data inside the object itself, up to some
-    // size; 15 bytes in modern libstdc++).
-    return sizeof(*this) + memusage::DynamicUsage(data);
+    return sizeof(*this) + memusage::DynamicUsage(m_type) + memusage::DynamicUsage(data);
+}
+
+size_t CNetMessage::GetMemoryUsage() const noexcept
+{
+    return sizeof(*this) + memusage::DynamicUsage(m_type) + m_recv.GetMemoryUsage();
 }
 
 void CConnman::AddAddrFetch(const std::string& strDest)
@@ -3772,7 +3774,7 @@ void CNode::MarkReceivedMsgsForProcessing()
     for (const auto& msg : vRecvMsg) {
         // vRecvMsg contains only completed CNetMessage
         // the single possible partially deserialized message are held by TransportDeserializer
-        nSizeAdded += msg.m_raw_message_size;
+        nSizeAdded += msg.GetMemoryUsage();
     }
 
     LOCK(m_msg_process_queue_mutex);
@@ -3789,7 +3791,7 @@ std::optional<std::pair<CNetMessage, bool>> CNode::PollMessage()
     std::list<CNetMessage> msgs;
     // Just take one message
     msgs.splice(msgs.begin(), m_msg_process_queue, m_msg_process_queue.begin());
-    m_msg_process_queue_size -= msgs.front().m_raw_message_size;
+    m_msg_process_queue_size -= msgs.front().GetMemoryUsage();
     fPauseRecv = m_msg_process_queue_size > m_recv_flood_size;
 
     return std::make_pair(std::move(msgs.front()), !m_msg_process_queue.empty());
diff --git a/src/net.h b/src/net.h
index 6b63e2cc0d1..20c654c34ab 100644
--- a/src/net.h
+++ b/src/net.h
@@ -245,6 +245,9 @@ public:
     CNetMessage(const CNetMessage&) = delete;
     CNetMessage& operator=(CNetMessage&&) = default;
     CNetMessage& operator=(const CNetMessage&) = delete;
+
+    /** Compute total memory usage of this object (own memory + any dynamic memory). */
+    size_t GetMemoryUsage() const noexcept;
 };
 
 /** The Transport converts one connection's sent messages to wire bytes, and received bytes back. */
diff --git a/src/streams.cpp b/src/streams.cpp
index baa5ad7abed..cd496ee2be4 100644
--- a/src/streams.cpp
+++ b/src/streams.cpp
@@ -2,6 +2,7 @@
 // Distributed under the MIT software license, see the accompanying
 // file COPYING or https://opensource.org/license/mit/.
 
+#include <memusage.h>
 #include <span.h>
 #include <streams.h>
 #include <util/fs_helpers.h>
@@ -110,3 +111,8 @@ bool AutoFile::Truncate(unsigned size)
 {
     return ::TruncateFile(m_file, size);
 }
+
+size_t DataStream::GetMemoryUsage() const noexcept
+{
+    return sizeof(*this) + memusage::DynamicUsage(vch);
+}
diff --git a/src/streams.h b/src/streams.h
index e9f3562c6ce..64dbfbff145 100644
--- a/src/streams.h
+++ b/src/streams.h
@@ -277,6 +277,9 @@ public:
     {
         util::Xor(MakeWritableByteSpan(*this), MakeByteSpan(key));
     }
+
+    /** Compute total memory usage of this object (own memory + any dynamic memory). */
+    size_t GetMemoryUsage() const noexcept;
 };
 
 template <typename IStream>