Magnolia is located at , along Sandy Creek. According to the United States Census Bureau, the village has a total area of, all land. Magnolia lies at the intersection of State Routes 183 and 542.
As of the census of 2010, there were 978 people, 384 households, and 266 families living in the village. The population density was. There were 418 housing units at an average density of. The racial makeup of the village was 97.8% White, 0.2% African American, 0.3% Native American, 0.3% Asian, 0.1% from other races, and 1.3% from two or more races. Hispanic or Latino of any race were 1.2% of the population. There were 384 households of which 34.1% had children under the age of 18 living with them, 55.5% were married couplesliving together, 8.3% had a female householder with no husband present, 5.5% had a male householder with no wife present, and 30.7% were non-families. 26.6% of all households were made up of individuals and 12% had someone living alone who was 65 years of age or older. The average household size was 2.55 and the average family size was 3.08. The median age in the village was 38.9 years. 26% of residents were under the age of 18; 8.4% were between the ages of 18 and 24; 24.4% were from 25 to 44; 26.4% were from 45 to 64; and 14.9% were 65 years of age or older. The gender makeup of the village was 50.5% male and 49.5% female.
2000 census
As of the census of 2000, there were 931 people, 369 households, and 263 families living in the village. The population density was 1,046.5 people per square mile. There were 398 housing units at an average density of 447.4 per square mile. The racial makeup of the village was 99.03% White, 0.54% African American, 0.21% Native American, and 0.21% from two or more races. Hispanic or Latino of any race were 1.72% of the population. There were 369 households out of which 30.9% had children under the age of 18 living with them, 59.6% were married couples living together, 8.1% had a female householder with no husband present, and 28.7% were non-families. 24.9% of all households were made up of individuals and 11.9% had someone living alone who was 65 years of age or older. The average household size was 2.52 and the average family size was 3.00. In the village, the population was spread out with 25.8% under the age of 18, 4.8% from 18 to 24, 30.9% from 25 to 44, 22.2% from 45 to 64, and 16.2% who were 65 years of age or older. The median age was 39 years. For every 100 females there were 100.6 males. For every 100 females age 18 and over, there were 96.3 males. The median income for a household in the village was $39,688, and the median income for a family was $45,156. Males had a median income of $32,292 versus $20,909 for females. The per capita income for the village was $19,711. About 4.3% of families and 4.3% of the population were below the poverty line, including 3.3% of those under age 18 and 3.9% of those age 65 or over.
