The demographics of young exoplanets can shed light on their formation and evolution processes. Exoplanet properties are derived from the properties of their host stars. As such, it is important to accurately characterize the host stars since any systematic biases in their derivation can negatively impact the derivation of planetary properties. Here we present a uniform catalog of photometrically derived stellar effective temperatures, luminosities, radii, and masses for 4865 young (<1 Gyr) stars in 31 nearby clusters and moving groups within 200 pc. We compared our photometrically derived properties to a subset of those derived from spectra and found them to be in good agreement. We also investigated the effect of stellar properties on the detection efficiency of transiting short-period young planets with TESS as calculated in Fernandes et al. (2022) and found an overall increase in the detection efficiency when the new photometrically derived properties were taken into account. Most notably, there is a 1.5 × increase in the detection efficiencies for sub-Neptunes/Neptunes (1.8-6 R ⊕) implying that, for our sample of young stars, better characterization of host star properties can lead to the recovery of more small transiting planets. Our homogeneously derived catalog of updated stellar properties, along with a larger unbiased stellar sample and more detections of young planets, will be a crucial input to the accurate estimation of the occurrence rates of young short-period planets.