Sliding along frictional interfaces separating dissimilar elastic materials is qualitatively different from sliding along interfaces separating identical materials due to the existence of an elastodynamic coupling between interfacial slip and normal stress perturbations in the former case. This bimaterial coupling has important implications for the dynamics of frictional interfaces, including their stability and rupture propagation along them. We show that while this bimaterial coupling is a monotonically increasing function of the bimaterial contrast, when it is coupled to interfacial shear stress perturbations through a friction law, various physical quantities exhibit a nonmonotonic dependence on the bimaterial contrast. In particular, we show that for a regularized Coulomb friction, the maximal growth rate of unstable interfacial perturbations of homogeneous sliding is a nonmonotonic function of the bimaterial contrast and provides analytic insight into the origin of this nonmonotonicity. We further show that for velocity‐strengthening rate‐and‐state friction, the maximal growth rate of unstable interfacial perturbations of homogeneous sliding is also a nonmonotonic function of the bimaterial contrast. Results from simulations of dynamic rupture along a bimaterial interface with slip‐weakening friction provide evidence that the theoretically predicted nonmonotonicity persists in nonsteady, transient frictional dynamics.