This paper investigates the dynamic response of low-medium-speed (LMS) maglev vehicle moving on the isolated bridge with lead rubber bearings (LRBs). In the vehicle-guideway bridge model, the vehicle is simulated as a 50-degree-of-freedom model consisting of a car-body and ten bogie modules. The guideway bridge with LRB is established by the finite element method, and the guideway is interacted with the vehicle by the actively controlled electromagnetic forces. The LRB is simulated by the nonlinear spring element for reflecting the hysteretic performance, and a fast nonlinear analysis (FNA) method is proposed to achieve the potential nonlinear behavior of LRB under vehicle load. Then, the dynamic response of maglev vehicle running on the isolated bridge with LRB is investigated and compared to that on the non-isolated bridge. The effect of vehicle speed and LRB isolation degree on the coupled system responses is studied. Furthermore, the driving quality of vehicle on LRB bridge is discussed, and the applicability of LRB to maglev line bridge is thoroughly evaluated. The results show that the installation of LRB exhibits relatively insignificant influence on the vertical response of vehicle-guideway system, while could enlarge the lateral response. The lateral response of coupled system is much more vulnerable to the isolation degree, and it is recommended that the isolation degree of LRB should not exceed 2.50 to guarantee the driving comfort and running safety.