Brooklyn renters experienced a fourth straight month of price drops in March, paying a median of $2,629 a month, or 6.3 percent less than a year before. In Manhattan, the median rent was $3,168 a month, 3.8 percent less than a year earlier — the lowest it has been since October of 2011.

Those figures reflect the net-effective rent — the median monthly rent, taking into account various concessions, including months of free rent and broker commissions paid by the landlord — according to the latest Elliman Report, prepared by the real estate appraisal and consulting firm Miller Samuel.