I just recently had sex for the second time in my life I am 18 and me and my boyfriend have been together for over a year and have no stds. We had sex on Tuesday and we used trojan condoms with spermicide in them . A few hours later and the past two days after I noticed swelling in the vaginal area and itching . Could I be allergic to the condoms or spermicide

Yes, you're either just irritated from it or are allergic. According to wikipedia:

"Nonoxynol-9 has a number of possible side effects. These include irritation, itching, or the sensation of burning of the sex organs (either partner), and in women, urinary tract infections, yeast infection, and bacterial vaginosis.[21] These side effects are uncommon; one study found that only 3-5% of women who try spermicides discontinue use due to side effects." Also irritated skin is more susceptible to contracting infections like STDs.

You're boyfriend should by condoms without spermicide. They'll be mildly less affective against pregnancy so you should look into a second form of birth control. If you don't have any medical concerns about the pill, you can get it for free with health insurance or if you don't have insurance you can get it for free from planned parenthood. And there are a dozen other options besides the pill that you can have prescribed by your primary care doctor or at planned parenthood.