NOVA
Breaking news in astrophysics!
Scientists at the Harvard–Smithsonian Center for Astrophysics have discovered that six percent of red dwarf stars have habitable, Earth-sized planets. Some might even be as close as 13 light-years away.
Earth-like Planets Are Right Next Door
http://www.cfa.harvard.edu/news/2013/pr201305.html
Despite their dimness, these stars are good places to look for Earth-like planets. Red dwarfs make up three out of every four stars in our galaxy for a total of at least 75 billion. The signal of a transiting planet is larger since the star itself is smaller, so an Earth-sized world blocks more of the star's disk. And since a planet has to orbit a cool star closer in order to be in the habitable zone, it's more likely to transit from our point of view.
That's 4.5 Billion Red Dwarf stars in our galaxy with earth-sized planets in the habitable zone.