Magnolia is located in Putnam county Illinois with a geographic area of 0.3 square miles. The total population in Magnolia is 263 with 52.1% male and 47.9% female. Children under age 5 represent 4.2% of the population, under age 18 equal 16.7% of the population and over age 65 is 28.1% of the population. The median household income is $53,750, per capita income is $30,439. There are a total of 120 housing units with 65.8% owner occupied. Education includes 39.2% of residents that are high school graduates and 4.2% with a bachelor's degree or higher. The average temperature in Magnolia in the summer is 74 degrees, and in the winter 27 degrees.