living-room suite vs living room set

living-room suite and living room set both are nouns.

Word	Noun	Adjective	Verb	Adverb
living-room suite	Yes	No	No	No
living room set	Yes	No	No	No

As nouns, living-room suite and living room set are synonyms defined as:

living-room suite and living room set: a suite of furniture for the living room

Other synonyms of living-room suite include living-room set, living room suite, livingroom set, livingroom suite.

living-room suite (noun)	living room set (noun)
a suite of furniture for the living room	a suite of furniture for the living room