living-room suite vs livingroom set

living-room suite and livingroom set both are nouns.

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

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

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

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

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