Asgard and Vanaheim together comprised the region known as Nordheim, which was probably analogous to the mysterious Thule of pre-Cataclysmic times. The high mountain regions were permanently glaciated, with the glaciers growing as the climate cooled. In the southern lowlands, taiga forest was presumed to cover much of the terrain. North of this lay the tundra, a soggy plain underlaid by permafrost.
The Aesir who populated this rugged land were a numerous and virile lot. A shade less bloodthirsty than their neighbors the Vanir, they nonetheless gloried in warfare, wearing their famous horned helmets and swinging awesome battle-axes.
During their more peaceable moments, the Aesir supported themselves by hunting abundant musk ox, mammoth, bear, reindeer, moose, fox, and the like. They doubtless augmented their meat diet by gathering lingon-berries and other wild fruits in season. They had no agriculture. Each tribe of Asgard was ruled by a "king", whose headquarters was a timber-roofed Great Hall.
There seems to have been a rough alliance between Asgard and Cimmeria, since young Conan spends time with the Aesir raiding both Vanaheim and Hyperborea.
References: Hyborian Age I-II, Frost Giant's Daughter, Phoenix on the Sword, Hour of the Dragon, et al.