Distances are commonly underperceived in virtual reality (VR), and this finding has been documented repeatedly over more than two decades of research. Yet, there is evidence that perceived distance is more accurate in modern compared to older head-mounted displays (HMDs). This meta-analysis, based on 137 data points from 61 publications, describes egocentric distance perception across 20 HMDs and examines the relationship between perceived distance and technical HMD characteristics. Judged distance was positively associated with HMD field of view (FOV), positively associated with HMD resolution, and negatively associated with HMD weight. The effects of FOV and resolution were more pronounced among heavier HMDs. These findings suggest that future improvements in these technical characteristics may be central to resolving the problem of distance underperception in VR.