It is discussed that the classical effective medium theory for the elastic properties of random heterogeneous materials is not congruous with the effective medium theory for the electrical conductivity. In particular, when describing the elastic and electro-conductive properties of a strongly inhomogeneous two-phase composite material, the steep rise of effective parameters occurs at different concentrations. To achieve the logical concordance between the cross-property relations, a modification of the effective medium theory of the elastic properties is introduced. It is shown that the qualitative conclusions of the theory do not change, while a possibility of describing a broader class of composite materials with various percolation thresholds arises. It is determined under what conditions there is an elasticity-theory analogue of the Dykhne formula for the effective conductivity. The theoretical results are supported by known experiments and show improvement over the existing approach. The introduction of the theory with the variable percolation threshold paves the way for describing the magneto-elastic properties of magnetorheological elastomers, as it has been achieved for magneto-dielectric and magnetic properties recently.