Col. Wilbur S. Corkran developed the 156-acre parcel that later became Henlopen Acres in the 1930's as a "residential development where quiet-loving, cultured people may live in a country seaside community amid conditions which make for health, comfort and refined pleasure." The hilly, tree-lined streets of this small, residential neighborhood are a favorite place to bike and walk. The community is home to the Rehoboth Art League that offers classes, studio space and art shows and events open to the public. The oceanfront Henlopen Acres Beach Club is available to memebers only and has tennis courts and a pristine, private beach. The community also boasts a marina with boat slips.

Henlopen Acres is the third smallest incorporated town in Delaware, governed by an elected, 7-member town council, one of whom serves as mayor. A town-owned, private security guard patrols the neighborhood, as well as North Shores. The city of Rehoboth Beach provides fire protection.