What is the #1 most expensive city in the US?

Could you please elaborate on which city in the United States is considered to be the most expensive to live in? I'm curious to know which metropolis boasts the highest cost of living, taking into account factors such as housing, transportation, food, and other daily expenses. Is it a coastal city known for its bustling economy and high-end amenities, or perhaps a metropolis in the heart of the country that's renowned for its luxurious lifestyle? I'm eager to learn more about this top-ranking city and its unique characteristics that contribute to its exorbitant cost of living.