Stuttering Wanderers were on top throughout and a second half goal from top-scorer Jermaine Easter seemed enough only for a Ricardo Batista own goal to level matters.
Rochdale, who have found some form under new boss Keith Hill, could have paid the price for playing a high defensive line and were lucky not to concede more but they rallied late on and could have stolen a win.
It took a while for both teams to get going after a torrential downpour of rain early on but when they did it was Wycombe who started strongest and created some decent chances.
They should have taken the lead on 17 minutes. A deft touch from Easter sent away Matt Bloomfield one-on-one with Matthew Gilks, but the former Ipswich man spurned the chance by shooting straight at the Rochdale keeper.
And minutes later Stephen O'Halloran rose highest for a Chris Palmer free-kick but his header just went wide.
After that Wycombe set up camp in the Rochdale half and only the offside flag seemed to keep them at bay.
Anthony Grant the next man to go close on 37 minutes but after some neat build up play his curling shot from 20 yards was high and wide.
Then from nowhere Batista at the other end was called into action to save a stinging half-volley from Glenn Murray.
They then created another chance on the stroke of half-time when Gary Brown fed in Chris Dagnall who blasted wide from a tight angle.
After a frustrating first half, Wycombe started the second perfectly on 51 minutes and deservedly took the lead.
Alan Goodall missed a Tommy Mooney flick on to allow Betsy to race on to the goal and he unselfishly squared for Easter who slotted home from ten yards.
Rochdale almost hit back instantly as Russell Martin failed to clear a cross and the ball fell to Murray who somehow blazed over from all of six yards.
Rochdale upped their game after that effort and Rory McArdle also had a decent chance but he just headed Adam Rundle's cross just wide.
But Easter should have doubled his account in the 64th minute. Mooney dropped deep to pick up the ball and fed in his strike partner who, with all the time in the world, shot tamely at Gilks.
His miss was costly as on 80 minutes substitute Kelvin Etuhu broke down the right and his cross turned into his own goal by Batista.
Rochdale then could have taken all three points when Dagnall's rasping volley rattled the crossbar but a key touch from Batista just did enough.