As well as Asfordby itselt, there are two further settlements in the parish: Asfordby Valley and Asfordby Hill. Together they have a population of around 3,100 (2011 estimate). The villages are to the north of the River Wreake, with Asfordby Hill situated east of Asfordby proper, closer to Melton, and Asfordby Valley to the north.
Asfordby was the site of a modern deep coal pit which was built between 1984 and 1993, but this closed in 1997 due to numerous geological difficulties and the low price of coal at the time.
Between 1894 and 1936 it was a civil parish in Melton Mowbray Rural District and from 1936 until 1974 in the Melton and Belvoir Rural District. In 1936 it absorbed the neighbouring parish of Welby. Asfordby was an ancient or ecclesiastical parish.
The parish was part of Melton Mowbray Rural District from 1894 until 1935 when the rural district was abolished and replaced by the Melton and Belvoir Rural District which covered a larger area. A year after the introduction of the new rural district its parishes were reorganized and reduced in number from 68 to 25.
In 1974 a new nationwide organization of local government was introduced in which rural and urban districts were replaced by "non-metropolitan" districts. In the northeast of Leicestershire this meant little save for the fact that the principal town of Melton Mowbray, formerly a separate urban district, was now governed by the same body (Melton District or Borough) as the rural area that surrounded it.
Maps on the place-pages for Belvoir Rural District and Melton and Belvoir Rural District illustrate the location of the various parishes and the geographical and administrative changes that occurred in 1936.