The fire at Harbor Village Apartments, 287 W. 40th St., broke out at about 10 a.m. It displaced 44 residents.
Firefighters from at least four departments responded to the blaze.
Authorities said the two injured firefighters were taken to Holland Hospital, where they were treated for neck and back injuries. They were both released Wednesday afternoon.
Holland Public Safety Capt. Jack Dykstra said one female resident who tried to extinguish the fire before calling 911 was treated at a local hospital for minor burns to her hands and released Wednesday afternoon.
Dykstra said it appears the fire started when a lit candle fell onto a bed in a second-floor apartment. The preliminary estimate of the structural damage is in excess of $250,000, said Capt. Chris Tinney.
American Red Cross volunteers have been meeting with displaced residents to assess their needs, and the group has set up an emergency shelter at nearby Central Wesleyan Church.