The thefts happened overnight between Monday and Tuesday in the Ann Arbor Hills and Burns Park neighborhoods, The Detroit News reported.
Wreaths, lighted candy canes and penguins were stolen, fence posts were damaged and lights were unraveled from trees, Ann Arbor Police Detective Chris Fitzpatrick said.
Surveillance cameras from one of the homes caught images of the two suspects stealing decorations from the porch, Fitzpatrick said.
Police said they were hoping to use the footage to identify the suspects and recover the decorations, which in total were worth about $1,000.
"Whether it's a prank or some type of initiation, we want to talk to the individuals who did this to see what their intent was," Fitzpatrick said. "Some of the decorations have special value to them, and [the homeowners] want to get this stuff back."