We used the Immersion GRating Infrared Spectrometer (IGRINS) to determine fundamental parameters for 61 K- and M-type young stellar objects (YSOs) located in the Ophiuchus and Upper Scorpius star-forming regions. We employed synthetic spectra and a Markov chain Monte Carlo approach to fit specific K-band spectral regions and determine the photospheric temperature (T), surface gravity (), magnetic field strength (B), projected rotational velocity (), and K-band veiling (r K ). We determined B for ∼46% of our sample. Stellar parameters were compared to the results from Taurus-Auriga and the TW Hydrae association presented in Paper I of this series. We classified all the YSOs in the IGRINS survey with infrared spectral indices from Two Micron All Sky Survey and Wide-field Infrared Survey Explorer photometry between 2 and 24 μm. We found that Class II YSOs typically have lower and , similar B, and higher K-band veiling than their Class III counterparts. Additionally, we determined the stellar parameters for a sample of K and M field stars also observed with IGRINS. We have identified intrinsic similarities and differences at different evolutionary stages with our homogeneous determination of stellar parameters in the IGRINS YSO survey. Considering as a proxy for age, we found that the Ophiuchus and Taurus samples have a similar age. We also find that Upper Scorpius and TWA YSOs have similar ages, and are more evolved than Ophiuchus/Taurus YSOs.