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 suite, living room set, 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