Robert Matthias, assistant to Virginia Beach's city manager, told The Associated Press: "So far, they haven't found any casualties.”
Local TV station WKTR reported that the jet was flying low to the ground and dumping its fuel before it crashed.
Riley told WKTR that three of the buildings had structural collapse.
Riley told WKTR that both pilots were conscious after ejecting. He said rescue crews are focused on health risks associated with the fumes from the crash. Firefighters are also still containing the fire.
The Navy said that the pilots were part of Strike Fighter Squadron 106, a training squadron based at Naval Air Station Oceana in Virginia Beach.