Approaches for strain engineering of perpendicular magnetic tunnel junctions (pMTJs), and the resulting structures, are described. In an example, a memory structure includes a perpendicular magnetic tunnel junction (pMTJ) element disposed above a substrate. A lateral strain-inducing material layer is disposed on the pMTJ element. An inter-layer dielectric (ILD) layer is disposed laterally adjacent to both the pMTJ element and the lateral strain-inducing material layer. The ILD layer has an uppermost surface co-planar or substantially co-planar with an uppermost surface of the lateral strain-inducing material layer.