Certainly, allergies (whether solely ocular or systemic as well) can contribute to the swelling of the skin and tissues underneath the skin of the lower eyelids.
If this is truly an allergic phenomenon then taking an oral antihistamine can provide some benefit. Also, assuming an allergic process occurring, using cool compresses over the eyes can also provide some benefit.
The one thing to be aware of is when swelling is accompanied by redness, tenderness, fevers, chills, eye pain or decreased vision. If these occurring, then this is not simple allergies and should be evaluated by an ophthalmologist.
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My opinion is solely informative and does not constitute an informed medical opinion or recommendation. For an informed medical opinion and/or recommendation you must see an eye doctor.