We investigate the effective elastic properties of disordered heterogeneous materials whose Young's modulus varies spatially as a lognormal random field. For one-, two-, and three-dimensional (1D, 2D, and 3D) rectangular blocks, we decompose the spatial fluctuations of the Young's log-modulus into first- and higher-order terms and find the joint distribution of the effective elastic tensor by multiplicatively combining the term-specific effects. The analytical results are in good agreement with Monte Carlo simulations. Through parametric analysis of the analytical solutions, we gain insight into the effective elastic properties of this class of heterogeneous materials. The results have applications to structural/mechanical reliability assessment and design.