In the present study, three boundary-layer stability codes are compared based on hypersonic high-enthalpy boundary-layer flows around a blunted 7 deg half-angle cone. The code-to-code comparison is conducted between the following codes: the Nonlocal Transition analysis code of the DLR, German Aerospace Center (DLR); the Stability and Transition Analysis for hypersonic Boundary Layers code of VirtusAero LLC; and the VKI Extensible Stability and Transition Analysis code of the von Kármán Institute for Fluid Dynamics. The comparison focuses on the role of real-gas effects on the second-mode instability, in particular the disturbance frequency, and deals with the question on how far not accounting for real-gas effects compromises the stability analysis. The experimental test cases for the comparison are provided by the DLR High Enthalpy Shock Tunnel Göttingen and the Japan Aerospace Exploration Agency High Enthalpy Shock Tunnel. The focus of the comparison between the stability results and the measurements is, besides real-gas effects, the influence of uncertainties in the mean flow on the stability analysis.