A new survey by real estate portal Zillow of potential homebuyers’ confidence in the market shows American renters are growing more confident in the housing market. Across the country, more than 5 million renters are planning to buy a home this year, including about 35,000 in the Boston area.

More than 12 percent of current renters nationwide – roughly 5.2 million – said they plan to buy in the next year, an almost 25 percent jump from the same time last year, when 4.2 million renters said they had plans to buy within 12 months, pushing Zillow’s national confidence index from 66.2 at this time last year to 70.6. Boston renters were slightly less bullish on the housing market, but still felt more positive than at the same time last year, with the Boston metro’s confidence index rising one point to 66.2, with 34,898 renters looking to purchase in the next year, according to Zillow’s analysis. 

Thanks to historically low mortgage interest rates and home values below peak levels, U.S. buyers can expect to spend about 15 percent of their monthly income on a mortgage payment, compared with 22 percent historically, according to Zillow research. Typical renters should expect to pay 30 percent of their income to rent, compared with 25 percent a generation ago.

"As home affordability continues to look great and rental affordability looks abysmal, many current renters clearly seem to be re-thinking their attitudes toward homeownership, and are expressing more confidence in the overall housing market as a result," Zillow Chief Economist Stan Humphries said in a statement. "But while this confidence is heartening, it’s important to inject a note of reality here: Not all renters who want to buy this year will be successful. Saving a down payment, qualifying for a mortgage and finding an affordable home to buy all remain formidable challenges for many."

Among all renters surveyed nationwide, 59.7 percent said they think buying a home is the best long-term investment a person can make, compared with 56.9 percent at the same time last year. This improved long-term outlook was especially evident among younger renters. Among all 18- to 34-year-old renters, 66.2 percent said owning a home was the best long-term investment, compared with 61.4 percent last year.

The index is measured on a 100-point scale, with readings more than 50 indicating general confidence. Overall, housing market confidence is rising more quickly among renters than homeowners. Among only homeowners, headline confidence rose 3.7 points year-over-year, to 70.6 in January. Among renters only, overall confidence rose 4.4 points in the past year, to 62.4. Confidence among all owners and renters rose 3.6 points, to 67.4.

Although survey respondents in most markets said they expected home value appreciation to slow in 2015, in all areas they also said they expected home value growth to exceed the rate of inflation by an average of more than 2 percent. During the past year, consumer expectations for long-term home value growth have increased. Consumers now expect homes to appreciate over the next ten years by slightly more than what is expected by experts – and at a faster rate than before the housing bubble.